Mergers and Acquistions News
Categories: IT Services & Consulting
October 7th 2008, 11:28AM
Less than a month after the completion of its takeover of Intervoice, Convergys Corporation has announced that it is to move further into the operations support systems solutions industry with the acquisition of Ceon Corporation.
Convergys signed a deal with Ceon in January in which it was given the right to purchase the company following the issuing of convertible debt.
It is now moving ahead with the acquisition, which is expected to be finalised over the coming months.
The financial details of the transaction have not been announced, although the firm referred to it as "a small but strategic acquisition to be accretive beginning 2009 on a GAAP basis".
Convergys has offices in more than 80 separate locations around the world, employing over 75,000 workers.
It spent $335 million (£190 million) in cash in order to purchase Intervoice last month, which it claimed was part of a strategy to cater to "the current and future needs" of its client base.
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