Nearshore Americas

iQor Divests Logistics, Product Service Operations

BPO provider iQor has reached a deal with New York City-based private equity firm Staple Street Capital to sell off its logistics and product service operations in Europe, Asia, South America, and Canada.

St. Petersburg, Florida-based iQor did not disclose the financial details of the deal, but confirmed that it had retained the operations in the US and Mexico.

“Our North American logistics and product services solution remains an integral part of our five pillars of end-to-end customer support,” iQor’s president and CEO Gary Praznik said.

Staple Street Capital will integrate iQor’s assets into its portfolio company Ivy Technology, which provides electronic product repair services to computer, electronic, telecommunications and medical device makers.

iQor’s logistics unit provides transportation companies with contact center outsourcing services and transportation collections solutions, in addition to helping logistics companies streamline their back-office functions.

The divestment, iQor said, will help it focus on areas of high growth with existing and future customers.

With new technologies disrupting the customer services industry, iQor is focusing on bolstering its digital portfolio with augmented agent assistants, voice and interaction analytics, and solutions in machine learning and artificial intelligence.

Over the past two years it has launched dozens of delivery centers around the globe, adding more than 7,000 call center agents to its workforce.

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The BPO provider has a strong nearshore presence in Mexico, with around 6,000 product support agents, and the company entered Trinidad and Tobago in 2015.

Narayan Ammachchi

News Editor for Nearshore Americas, Narayan Ammachchi is a career journalist with a decade of experience in politics and international business. He works out of his base in the Indian Silicon City of Bangalore.

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