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Convergys to Acquire Stream for $820 Million

Convergys Corporation (NYSE: CVG) and Stream Global Services, Inc., both premier providers of customer management services, today announced entry into a definitive merger agreement under which Convergys will acquire Stream for a total enterprise value of $820 million in cash, subject to certain adjustments, from funds managed by Ares Management and Providence Equity Partners, as well as from LiveIt, the BPO investment arm of Ayala Corp. Convergys also announced the transaction is expected to add approximately $0.35 in diluted earnings per share (EPS) in the first 12 months after close, excluding one-time charges, intangible amortization and integration costs.  Continue reading Convergys to Acquire Stream for $820 Million