West Corporation, a global leader in technology-enabled services announced its Board of Directors has approved the divestiture of West Revenue Generation Services, LLC (“WRGS”) via a dividend transaction to its shareholders, effective January 1, 2019. Going forward, WRGS will operate as an independent company from West and continue to be owned by affiliates of Apollo Global Management, LLC.
WRGS, with more than 1,200 staff, helps enterprises drive incremental sales, strengthen customer relationships and increase market share through providing numerous call center services such as inbound calls, prospective client outbound calls and management of existing customers’ end-to-end needs. For the twelve months ended September 30, 2018, WRGS revenue and Adjusted EBITDA were $96.1 million and $5.6 million, respectively.
“After a thorough strategic review of the Company’s assets, West has determined that WRGS is not strategically aligned with the rest of the Company’s businesses,” said John Shlonsky, President and Chief Executive Officer of West Corporation. “The divestiture of the West Revenue Generation Services business allows West to focus on its core business of providing end-to-end technology enabled communication solutions,” he continued. “It will also improve our revenue and earnings growth rates and margin profile.”
WRGS and West have entered a service agreement requiring West to continue providing shared services to WRGS. WRGS operations are currently continuing normally without any immediate changes. Historically reported as part of the Specialized Agent Services segment, WRGS will no longer be reported within West’s financials.
About West Corporation:
West Corporation is a leading technology enablement company that connects people around the world, making companies more efficient and improving lives. West helps its clients more effectively communicate, collaborate and connect with their audiences through a diverse portfolio of innovative solutions.
For over 30 years, West has provided reliable, high-quality voice and data services. West has sales and/or operations in the United States, Canada, Europe, the Middle East, Asia Pacific, Latin America and South America. West is controlled by affiliates of certain funds managed by Apollo Global Management, LLC (NYSE: APO). For more information, please call 1-800-841-9000 or visit www.west.com.