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Cincinnati-based Convergys sold for $2.8 billion

Cincinnati-based Convergys sold for $2.8 billion
Posted at 7:32 PM, Jun 28, 2018
and last updated 2018-06-28 19:32:54-04

CINCINNATI -- A Cincinnati-based business announced its sale to another corporation Thursday.

SYNNEX Corporation will acquire Convergys for cash and stock valued at about $2.8 billion, including about $170 million of Convergys' outstanding net debt, the companies announced. 

Convergys describes itself as "a global leader in customer experience outsourcing." According to the announcement, it's expected that the company will be combined with SYNNEX's subsidiary Concentrix. 

"Convergys clients will be even better served by the combined organization’s increased scale, strong talent, best-in-class analytics, technology, and digital offerings, and a shared commitment to helping them successfully navigate the increasingly complex CX ecosystem," Convergys president and CEO Andrea Ayers said.

Convergys shareholders will receive $13.25 cash and 0.1193 shares of SYNNEX stock for each Convergys common share they own.