SERGEANT BLUFF | Customer management services giant Convergys has completed its $820 million acquisition of Stream Global Services, which operates a Sergeant Bluff call center.
The purchase, announced in January, is expected to bring Convergys’ annual revenue to more than $3 billion, making it the largest U.S. provider of outsourced business resources and second-largest such firm in the world.
Stream spokesman Joe Thornton said the deal will mean few changes in Sergeant Bluff in the short term.
"Our people will continue serving the same great clients and we will continue to create career opportunities for hundreds of people here – and our local leadership remains stable," Thornton said in an email.
The deal could mean future growth at the Sergeant Bluff site, Thornton said.
The local center at 102 Sergeant Square Drive does not publicly identified its clients. In the past, they have included Fortune 100 firms that deal in financial services, satellite radio, apparel, consumer electronics and entertainment.
Based in Cincinnati, Convergys now has 125,000 employees working out of more than 150 locations in 31 countries, speaking 47 languages. The closest is in Omaha.
The company has a significant presence in India with offices across New Delhi, Bangalore, Gurgaon, Hyderabad, Mumbai, Pune and Thane.
Eagan, Minnesota-based Stream, which has 40,000 employees, provides customer relationship management services in 22 countries and 35 languages.
In January, Convergys said it would acquire Stream for $820 million, with $400 million in cash and a $350 million loan from Citigroup Global Markets Inc and BofA Merrill Lynch, as well as existing credit lines.
Convergys' said Stream's complementary client portfolio will also diversify its client base with the addition of technology, entertainment and communications clients.
“We are excited to welcome Stream to Convergys,” said Andrea Ayers, president and CEO of Convergys, in a news release. “We believe our shared focus on exceptional client service, operational expertise, and world-class talent will enable us to quickly integrate and leverage our expanded reach for the benefit of clients, employees, and shareholders.”
Stream opened its Sergeant Bluff call center in the Pioneer Mall in September 2006. Local business leaders recruited Stream to replace a 600-employee call center the former MCI closed after it was bought by Verizon Communications.