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 Convergys
Completes Acquisition of Finance & Accounting Outsourcing
Business of Deloitte Consulting Outsourcing
Convergys Corporation (NYSE: CVG), a global leader in providing
customer care, human resources, and billing services, announced
today it has completed the acquisition of the Finance and
Accounting (F&A) Business Process Outsourcing (BPO) business of
Deloitte Consulting Outsourcing LLC, a subsidiary of Deloitte
Consulting LLP.
Today’s closing finalizes a definitive agreement between
Deloitte Consulting Outsourcing and Convergys first announced on
June 16, 2005. At that time, Convergys stated the acquisition
would be neutral to its 2005 earnings per share.
Deloitte Consulting Outsourcing’s F&A BPO business provides
finance and accounting outsourcing services to clients in
multiple industries ranging from communications to retail to
professional services. It provides business processing and
technology services supporting clients’ from “procurement to
payment,” financial reporting, reconciliations, budgeting, and
treasury management functions.
"Convergys is already an established leader in the HR BPO
market, so this acquisition is a strategic extension of
Convergys' service offerings that will leverage our existing HR
and customer care expertise and experience, advanced
technologies, global reach, and strong client relationships,"
said Steve Rolls, Executive Vice President, Global Customer
Management and Employee Care for Convergys. "Finance and
accounting BPO is a fast-growing market and this acquisition
provides proven F&A BPO expertise developed over the last 10
years by one of the leading financial services organizations. At
the same time, it positions Convergys to expand our footprint to
a whole new horizontal market and accelerate revenue growth in
our customer management business."
"This move is highly beneficial for Convergys," said Industry
Analyst Anna Danilenko, Program Manager of F&A BPO and
Consulting services, IDC. "The acquisition is expected to
benefit Convergys' core business and well position it to
capitalize on a rapidly growing F&A BPO market."
Source:
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