Convergys

{{Infobox company

| name = Convergys Corporation

| logo = Convergys logo.svg

| image = File:Convergys Baguio.JPG

| image_caption = Convergys office in Baguio, Philippines

| type = Public

| traded_as = {{NYSE was|CVG}}

| foundation = {{start date|1998}}

| location_city = Cincinnati, Ohio

| location_country = United States

| locations = 150

| fate = Acquired by Synnex

| defunct = {{End date|2018|10|05}}

| successor = Concentrix

| area_served =

| key_people = {{ublist | Andrea Ayers {{small|(CEO)}}

| Andre S. Valentine (CFO) | Claudia Cline (Exec VP/General Counsel) | Michael L Wooden (CCO) | Marjorie Connelly (COO) }}

| industry = Customer Management
Information Management
Outsourcing
Consulting
Professional Services

| products = Infinys Rating and Billing (IRB), Dynamic Decisioning Solution (DDS), ICOMS, Customer Management, Solutions etc.

| services =

| revenue = {{increase}} $ 2.951 billion {{cite web |url=http://files.shareholder.com/downloads/CVG/1699815799x0x879498/AF43DF8C-AFB4-4600-A4FD-C1686946CA15/Convergys_2015_Annual_Report-FINAL.pdf |title=2015 Annual Report |publisher=Convergys |date=Feb 23, 2016 |access-date=May 2, 2016 |archive-date=May 31, 2016 |archive-url=https://web.archive.org/web/20160531180429/http://files.shareholder.com/downloads/CVG/1699815799x0x879498/AF43DF8C-AFB4-4600-A4FD-C1686946CA15/Convergys_2015_Annual_Report-FINAL.pdf |url-status=dead }}

| revenue_year = 2015

| operating_income = {{increase}} $ 194.4 million

| income_year = 2015

| net_income = {{increase}} $ 169 million

| net_income_year = 2015

| assets = {{decrease}} $ 2.358 billion

| assets_year = 2015

| equity = {{increase}} $ 1.276 billion

| equity_year = 2015

| num_employees = 130,001

| num_employees_year = 2015

| homepage = {{URL|http://www.convergys.com}}

| footnotes =

}}

Convergys Corporation was a corporation based in Cincinnati, Ohio, that sold customer management and information management products, primarily to large corporations. Customer management products included agent assisted, self-service and care software tailored to the communications, financial services, technology, retail, healthcare and government markets. Information management provided convergent billing and business support system (BSS) products and services including revenue management, product and order management, and customer care management to telecom, utilities, and cable/satellite/broadband service providers. They had approximately 130,000 employees across 33 countries.

History

File:Convergys, Gurgaon, India.jpg, India]]

The company grew from Cincinnati Bell Information Systems and MATRIXX, both subsidiaries of Cincinnati Bell, and AT&T Solutions Customer Care (formerly AT&T American Transtech), which was sold to Cincinnati Bell in 1998;{{ cite news | newspaper = Orlando Sentinel | first = Blake | last = Fontenay | title = CBIS, Matrixx Team to Form New Company | url = https://www.orlandosentinel.com/1998/04/28/cbis-matrixx-team-to-form-new-company/ | date = Apr 28, 1998 | access-date = May 2, 2016 }} an IPO in August 1998 made it a fully independent company.{{cite web | publisher = MarketWatch | url = http://www.marketwatch.com/story/ipo-daily-report-citysearch-to-merge-with-ticketmaster-online-8-13-98 | title = IPO Daily Report: CitySearch to merge with Ticketmaster Online | date = Aug 13, 1998 | access-date = May 2, 2016 }} Since then, Convergys' headquarters in Cincinnati, Ohio, has acquired numerous companies.

On July 1, 2002, Convergys announced{{Cite web|url=http://www.speechtechmag.com/Articles/News/Speech-Technology-Digest/Convergys-Buys-Speech-Recognition-Division-of-iBasis-33317.aspx|title=Convergys Buys Speech Recognition Division of iBasis|website=www.speechtechmag.com|date=July 2002 |access-date=2018-07-20}} the purchase of the iBasis Speech Solutions line of business (formerly Price Interactive) from iBasis Inc. for $17 million in order to enhance its Interactive Voice Response (IVR) and Advanced Speech Recognition (ASR) solutions.

Iт 2003, Convergys opened two call centres in the Philippines. The Philippines, along with India, was chosen by then president of the company, Jack Freker, for the company’s global expansion.{{Cite web|title = A history of the BPO industry in numbers|url = http://www.rappler.com/brandrap/stories/98207-bpo-philippines-timeline|website = Rappler| date=July 2, 2015 |access-date = November 10, 2015}}

In 2004, Convergys bought DigitalThink for $120 million.{{cite news | newspaper = San Francisco Business Times | title = Cincinnati company will buy DigitalThink for $120M | date = Mar 25, 2004 | url = http://www.bizjournals.com/sanfrancisco/stories/2004/03/22/daily34.html | access-date = May 6, 2016 }} DigitalThink helped Convergys expand its human resources outsourcing business.

On November 4, 2004 Convergys announced they had acquired Finali, a Westminster, Colorado based company, for $25 million in cash.{{Cite web |date=2004-11-01 |title=Convergys Expands Business Transformation Outsourcing Services with Acquisition of Finali |url=https://www.speechtechmag.com/Articles/News/Speech-Technology-News/Convergys-Expands-Business-Transformation-Outsourcing-Services-with-Acquisition-of-Finali--33134.aspx |access-date=2025-02-20 |website=Speech Technology Magazine |language=en-US}} Finali provided integrated customer support and sales support management services for e-commerce sites.

Convergys acquired Intervoice, a Dallas-based telecommunications company, in 2008 for $335 million.{{cite news | newspaper = The New York Times | title = Convergys to Acquire Intervoice for $335 Million | url = https://dealbook.nytimes.com/2008/07/17/convergys-to-acquire-intervoice-for-335-million/ | date = Jul 17, 2008 | access-date = May 4, 2016 }}

Convergys sold its Human Resources Management line of business to NorthgateArinso in March 2010.{{cite news | newspaper = The Wall Street Journal | first = Daniel | last = Hausmann | title = KKR-Backed Deal Offers Alternative to Scranton-Style HR | url = https://blogs.wsj.com/privateequity/2010/03/05/kkr-backed-deal-offers-alternative-to-scranton-style-hr/ | date = Mar 5, 2010 | access-date = May 2, 2016 }}

On March 22, 2012, Japanese technology firm NEC announced it would buy the Information Management Business of Convergys for approximately $449 million.{{cite web | website = CIO | first = Jay | last = Alabaster | title = NEC to Acquire Convergys Data Management Business for US$449 Million | url = http://www.cio.com/article/2398014/mergers-acquisitions/nec-to-acquire-convergys-data-management-business-for-us-449-million.html | date = Mar 22, 2012 | access-date = May 2, 2016 | archive-date = November 23, 2015 | archive-url = https://web.archive.org/web/20151123202905/http://www.cio.com/article/2398014/mergers-acquisitions/nec-to-acquire-convergys-data-management-business-for-us-449-million.html | url-status = dead }} In 2012, Convergys Philippines, 8 years after its entry into the country established 18 centers with 26,000 employees in all, was named “BPO Employer of the Year” at the annual International ICT Awards.{{cite news | title=Convergys named BPO 'employer of the year' | url = http://news.abs-cbn.com/business/04/20/12/convergys-named-bpo-employer-year | publisher=ABS-CBN Corporation News |date= Apr 20, 2012 | access-date = May 2, 2016 }}

On April 3, 2013, Convergys completed the acquisition of New Zealand-based Datacom call center operations in Kuala Lumpur and Manila for $20 million.{{ cite news | publisher = ARN | first = Julia | last = Talevski | title = Datacom sells Asia BPO assets for $20 million | url = http://www.arnnet.com.au/article/458062/datacom_sells_asia_bpo_assets_20_million/ | date = Apr 4, 2013 | access-date = May 2, 2016 }}

On January 6, 2015, Convergys and Stream Global Services announced entry into a definitive merger. Under the agreement, Convergys would acquire Stream for a total enterprise value of $820 million in cash.{{ cite news | first = Soham | last = Chatterjee | editor-first = Maju | editor-last = Samuel | publisher = Reuters | url = https://www.reuters.com/article/us-stream-convergys-deal-idUSBREA0512B20140106 | title = Customer services provider Convergys to buy Stream Global | date = Jan 6, 2014 | access-date = May 2, 2016 }} On March 3, 2014, Convergys completed the acquisition of Stream creating the 2nd largest BPO provider in the outsourcing industry. The merger brought their total employees to approximately 125,000 with 150 centers in 31 countries supporting 47 languages.{{cite web | website = Nearshore Americas | first = Narayan | last = Ammachchi | title = Convergys Completes Acquisition of Stream | url = http://www.nearshoreamericas.com/convergys-closes-acquisition-stream/ | date = Mar 4, 2014 | access-date = May 2, 2016 }}

In August 2016, Convergys acquired the buw Holding group.{{Cite web |title=Carlsquare advised US BPO acquires Germany’s company buw |url=https://carlsquare.com/deal-history/leading-us-bpo-provider-convergys-acquires-germanys-largest-owner-operated-customer-management-company-buw/ |access-date=2025-02-20 |website=Carlsquare Corporate Finance |language=en-US}}

Synnex acquisition

On June 28, 2018, Convergys and Synnex announced they had reached a definitive agreement in which Synnex would acquire Convergys for $2.43 billion in combined stock and cash, and integrate it with Concentrix.

On October 5, 2018, Convergys and Synnex announced that they had completed the merger.{{cite web |title=SYNNEX Corporation Completes Transaction with Convergys Corporation |url=https://newsroom.convergys.com/press-release/synnex-corporation-completes-transaction-convergys-corporation |website=convergys.com |access-date=October 5, 2018 |language=en }}{{Dead link|date=December 2023 |bot=InternetArchiveBot |fix-attempted=yes }}