Ayala group acquires UK-based BPO firm.
Byline: Doris C. Dumlao
MANILA -- The Ayala Group's business process outsourcing unit has acquired UK-based LBM Holdings Ltd., allowing the group to make more inroads into the UK, the world's second largest English language market.
In a press statement on Monday, Ayala Corp. announced that the acquisition was made by Stream Global Services Inc., an investee company of the conglomerate's BPO investment arm LiveIT Investments Ltd. Stream pioneered the call center industry in the country when it took the first calls from the US market in mid-2000, the statement said.
LBM is a premier demand and lead generation solutions provider that employs about 2,500 people across six locations in the UK and generates approximately PS60 million in annual revenues. Its clients are in the telecommunications, financial services, utilities, automotive and retail industries.
"We are very pleased with Stream's entry into the UK market, its strong financial results globally, its continued growth in the Philippines, and its recognition by the industry as an employer of choice," said Fred Ayala, LiveIt's CEO and Stream's vice chair.
The Ayala group sees LBM enabling Stream to better penetrate the UK as well as strengthen its ability to help customers grow their sales through LBM's revenue generation service offerings.
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|Publication:||Philippines Daily Inquirer (Makati City, Philippines)|
|Date:||Apr 22, 2013|
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