Stream Global Services
{{Infobox company
| name = sgs, Inc.
| logo = Image:New Stream Smile Logo.png
| type = Public
| location_city = Eagan, Minnesota
| location_country = U.S.
| industry = Business process outsourcing, offshoring
| homepage = [http://www.stream.com/ stream.com]
| num_employees = 37,000+ (2013){{cite web|url=http://www.manchestereveningnews.co.uk/business/smes/call-centre-firm-lbm-holdings-1424449|title= LBM Holdings sold to Stream Global Services|date= 27 February 2013|accessdate=2013-02-27}}
| revenue = {{increase}}US$800.173 million (2010){{cite web |title=2010 Annual Report |url=http://quote.morningstar.com/stock-filing/Annual-Report/2010/12/31/t.aspx?t=:SGS&ft=10-K&d=276f884a8f8835f9a78733651b8984e9 |date=2010-12-31 |accessdate=2015-05-15}}
| operating_income = {{decrease}}US-$14.762 million (2010)
}}
Stream Global Services (formerly known as Global BPO Services Corp.),{{cite web |title=operates as a global business process outsourcing service provider |url=http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=SGS:US |url-status=dead |archiveurl=https://web.archive.org/web/20101114102316/http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=SGS:US |archivedate=2010-11-14 |accessdate=2011-04-24 |website=Bloomberg}} was a BPO company acquired by Convergys through a definitive merger,{{cite web |title=service provider specializing in customer relationship management for Fortune 1000 companies |url=http://www.pinoytechblog.com/archives/stream-global-services-wins-2010-ict-best-practices-awards |archive-url=https://web.archive.org/web/20110628202255/http://www.pinoytechblog.com/archives/stream-global-services-wins-2010-ict-best-practices-awards |url-status=dead |archive-date=June 28, 2011 |accessdate=2011-04-24 |website=www.pinoytechblog.com}}{{Dead link|date=July 2024}} together with more than 37,000 employees in 22 countries{{cite web |title=Stream Global Services Reviews |url=http://www.glassdoor.com/Reviews/Stream-Global-Services-Reviews-E140218.htm |accessdate=2011-04-24 |website=www.glassdoor.com}} and 50 contact centers. The company's footprint includes countries across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.{{cite web |title=Stream Global Services |url=http://www.stream.com |website=www.stream.com}}
History
Global BPO Services Corp. was founded by R. Scott Murray{{cite web|url=https://www.youtube.com/watch?v=cQ0fWumEQMs |archive-url=https://ghostarchive.org/varchive/youtube/20211215/cQ0fWumEQMs |archive-date=2021-12-15 |url-status=live|title= Stream Global Services: Straight Talk from CEO Scott Murray|website= YouTube|accessdate=2011-04-24}}{{cbignore}} in 2007. Global BPO Services raised $250 million in an IPO of a Special Purpose Acquisition Corp in October 2007. It closed the acquisition of Stream Holdings Corporation in July 2008 for $300 million in cash and assumption of debt. In connection with the acquisition of Stream, the company completed a private stock sale to Ares Management for $150 million and a tender offer for most of the publicly held shares of Stream, except those held by the founders of Global BPO Services.
On October 1, 2009, Stream Global Services, Inc. acquired e-Telecare in a stock-for-stock merger valued at approximately $225 million. e-Telecare brought over 10,000 employees and substantial operations in the Philippines. In connection with the merger, the company raised $200 million in a public debt offering led by Goldman Sachs.
The combined company provided customer management and information management products.
In 2010, Chairman and CEO R. Scott Murray resigned to return to the investment industry. On June 1, 2011, Trillium Capital LLC, owned by R. Scott Murray, the founder and former CEO of Stream, offered to acquire 100% of Stream for $4.65 per share plus assumption of debt. The non-binding proposal also included a provision to extend the exercisability of the public warrants by two years that would otherwise expire in October 2011. The transaction had a total enterprise value of approximately $575 million. The offer was subsequently turned down by the private equity shareholders, represented by Ares Capital, Providence Equity Partners, and Ayala Corporation. Trillium Capital LLC and R Scott Murray agreed to sell their ownership back to the company. Stream was subsequently taken private in 2012 by the three private equity owners at the same price Trillium Capital sold its shares to the company.
Convergys acquisition
On January 6, 2014, Convergys and Stream announced entry into a definitive merger. Under the agreement, Convergys will acquire Stream for a total enterprise value of $820 Million in cash.{{cite web |last=Boyle |first=Krista |date=6 January 2014 |title=Convergys to Acquire Stream for $820 Million |url=http://www.businesswire.com/news/home/20140106006784/en/Convergys-Acquire-Stream-820-Million#.Usw5Mjs_vSk |website=BusinessWire}}