Convergys Acquires Wireless Billing and Professional Services Contracts and Certain Assets from ALLTEL.Business EditorsCINCINNATI--(BUSINESS WIRE)--Dec. 12, 2003 Convergys Corporation (NYSE NYSE See: New York Stock Exchange :CVG CVG Convergys Corp CVG Corporación Venezolana de Guayana CVG Clear Vertical Grain (woodworking) CVG Carrier Group CVG Corporacion Venezolana de Guyana CVG Comprehensive Video Group (South Hackensack, NJ, USA) ), the global leader in integrated billing, employee care, and customer care services, announced today it is acquiring certain billing and customer care assets from ALLTEL Communications Inc., a subsidiary of ALLTEL (NYSE:AT). This transaction increases Convergys' share of the billing and customer care market in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . The acquisition is scheduled to close on December 31st and will be neutral to Convergys' 2004 earnings per share guidance. Convergys will pay $37 million, representing approximately one time the anticipated 2004 revenue. Additional earn-out payments are possible based on future performance. As part of the acquisition, Convergys will begin providing billing services to more than 10.5 million additional wireless and wireline subscribers, and will add several new corporations to its list of billing and customer care clients including Cingular, the joint venture between the domestic wireless divisions of SBC (1) (SBC Communications Inc., San Antonio, TX, www.sbc.com) A large, national telecommunications company that grew from a multitude of local and regional companies, including Southwestern Bell, Pacific Bell and Nevada Bell, into a single, unified brand by 2002. (NYSE:SBC) and BellSouth (NYSE:BLS See Bureau of Labor Statistics. ), Centennial Communications Centennial Communications (NASDAQ: CYCL) and its subsidiaries (Centennial Wireless (U.S.), Centennial Dominicana and Centennial de Puerto Rico) provide wireless and broadband telecommunications services to wireless telephone subscribers in the United States, Puerto Rico, the (Nasdaq:CYCL), and Commonwealth Telephone. As part of the agreement, more than 220 ALLTEL employees will join Convergys, supporting clients in North America and the Caribbean region. "This strategic acquisition provides us with additional wireless and wireline market share, important new clients, and fuels the growth of our Professional Services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. business," said Dave Dougherty, Executive Vice President, Global Information Management, Convergys. "No other company has the extensive billing and customer care knowledge and experience Convergys brings to serve the companies affected by this acquisition, and we plan to use this to provide them with the highest quality business solutions available." About ALLTEL ALLTEL is a customer-focused communications company Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. with more than 12 million customers and nearly $8 billion in annual revenues. ALLTEL provides wireless, local telephone, long-distance, Internet, and high-speed data services to residential and business customers in 26 states. About Convergys Convergys Corporation (NYSE:CVG), a member of the S&P 500 and the Forbes' Platinum 400, is the global leader in integrated billing, employee care, and customer care services provided through outsourcing or licensing. We serve top companies in telecommunications, Internet, cable and broadband services, technology, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , and other industries in more than 40 countries. We also provide integrated, outsourced, human resource services to leading companies across a broad range of industries. We bring together world-class resources, software, and expertise to help create valuable relationships between our clients and their customers and their employees. This commitment is validated by the more than 1.5 million individual bills our software produces each day to support more than 120 million subscribers, and by the more than 1.7 million separate customer and employee contacts we manage each day, both live and via electronic interaction. Convergys(R) employs more than 48,000 people in 50 customer contact centers and in our data centers and other offices in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, Latin America, Europe, the Middle East, and Asia. Convergys is on the net at www.convergys.com, and has world headquarters in Cincinnati. (Convergys and the Convergys logo are registered trademarks of Convergys Corporation.) |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion