Editing Convergys

{{Short description|American call center software company}}
{{Infobox company
| name = Convergys Corporation
| logo = Convergys logo.svg
| image = File:Convergys Baguio.JPG
| image_caption = Convergys office in [[Baguio]], [[Philippines]]
| type = [[Public company|Public]]
| traded_as = {{NYSE was|CVG}}
| foundation = {{start date|1998}}
| location_city = [[Cincinnati, Ohio|Cincinnati]], [[Ohio]]
| location_country = [[United States]]
| locations = 150<ref name="Annual-Report"/>
| fate = Acquired by [[Synnex]]
| defunct = {{End date|2018|10|05}}
| successor = [[Concentrix]]
| area_served = 
| key_people = {{ublist | [[Andrea Ayers]] {{small|(CEO)}}
| Andre S. Valentine ([[Chief financial officer|CFO]]) | Claudia&nbsp;Cline&nbsp;([[Vice president|Exec&nbsp;VP]]/[[General&nbsp;Counsel]]) | Michael L Wooden ([[Chief commercial officer|CCO]]) | Marjorie Connelly ([[Chief operating officer|COO]]) }}
| industry = [[Customer Management]]<br/>[[Information Management]]<br/>[[Outsourcing]]<br/>[[Consultant|Consulting]]<br/>[[Professional Services]]
| products = Infinys Rating and Billing (IRB), Dynamic Decisioning Solution (DDS), ICOMS, Customer Management, Solutions etc.
| services = 
| revenue = {{increase}} [[United States Dollar|$]] 2.951 billion <ref name="Annual-Report">{{cite web |url=http://files.shareholder.com/downloads/CVG/1699815799x0x879498/AF43DF8C-AFB4-4600-A4FD-C1686946CA15/Convergys_2015_Annual_Report-FINAL.pdf |title=2015 Annual Report |publisher=Convergys |date=Feb 23, 2016 |access-date=May 2, 2016 |archive-date=May 31, 2016 |archive-url=https://web.archive.org/web/20160531180429/http://files.shareholder.com/downloads/CVG/1699815799x0x879498/AF43DF8C-AFB4-4600-A4FD-C1686946CA15/Convergys_2015_Annual_Report-FINAL.pdf |url-status=dead }}</ref>
| revenue_year = 2015
| operating_income = {{increase}} [[United States Dollar|$]] 194.4 million<ref name="Annual-Report"/>
| income_year = 2015
| net_income = {{increase}} [[United States Dollar|$]] 169 million<ref name="Annual-Report"/>
| net_income_year = 2015
| assets = {{decrease}} [[United States Dollar|$]] 2.358 billion<ref name="Annual-Report"/>
| assets_year = 2015
| equity = {{increase}} [[United States Dollar|$]] 1.276 billion<ref name="Annual-Report"/>
| equity_year = 2015
| num_employees = 130,001<ref name="Annual-Report"/>
| num_employees_year = 2015
| homepage = {{URL|http://www.convergys.com}}
| footnotes = 
}}
'''Convergys Corporation''' was a corporation based in [[Cincinnati, Ohio]], that sold [[customer management]] and information management products, primarily to large corporations. Customer management products included agent assisted, self-service and care software tailored to the communications, financial services, technology, retail, healthcare and government markets. Information management provided convergent billing and business support system (BSS) products and services including [[revenue management]], product and order management, and customer care management to telecom, utilities, and cable/satellite/broadband service providers. They had approximately 130,000 employees across 33 countries.

== History ==
[[File:Convergys, Gurgaon, India.jpg|thumb|left|One of the Convergys offices in [[Gurgaon]], India]]
The company grew from [[Cincinnati Bell]] Information Systems and MATRIXX, both [[subsidiary|subsidiaries]] of Cincinnati Bell, and AT&T Solutions Customer Care (formerly AT&T American Transtech), which was sold to Cincinnati Bell in 1998;<ref>{{ cite news | newspaper = Orlando Sentinel | first = Blake | last = Fontenay | title = CBIS, Matrixx Team to Form New Company | url = https://www.orlandosentinel.com/1998/04/28/cbis-matrixx-team-to-form-new-company/ | date = Apr 28, 1998 | access-date = May 2, 2016 }}</ref> an [[Initial public offering|IPO]] in August 1998 made it a fully independent company.<ref name="IPO">{{cite web | publisher = MarketWatch | url = http://www.marketwatch.com/story/ipo-daily-report-citysearch-to-merge-with-ticketmaster-online-8-13-98 | title = IPO Daily Report: CitySearch to merge with Ticketmaster Online | date = Aug 13, 1998 | access-date = May 2, 2016 }}</ref> Since then, Convergys' headquarters in [[Cincinnati, Ohio]], has [[takeover|acquired]] numerous companies.

On July 1, 2002, Convergys announced<ref>{{Cite web|url=http://www.speechtechmag.com/Articles/News/Speech-Technology-Digest/Convergys-Buys-Speech-Recognition-Division-of-iBasis-33317.aspx|title=Convergys Buys Speech Recognition Division of iBasis|website=www.speechtechmag.com|date=July 2002 |access-date=2018-07-20}}</ref> the purchase of the iBasis Speech Solutions line of business (formerly Price Interactive) from iBasis Inc. for $17 million in order to enhance its Interactive Voice Response (IVR) and Advanced Speech Recognition (ASR) solutions.

Iт 2003, Convergys opened two call centres in the [[Philippines]]. The Philippines, along with [[India]], was chosen by then president of the company, Jack Freker, for the company’s global expansion.<ref>{{Cite web|title = A history of the BPO industry in numbers|url = http://www.rappler.com/brandrap/stories/98207-bpo-philippines-timeline|website = Rappler| date=July 2, 2015 |access-date = November 10, 2015}}</ref>

In 2004, Convergys bought [[DigitalThink]] for $120 million.<ref>{{cite news | newspaper = San Francisco Business Times | title = Cincinnati company will buy DigitalThink for $120M | date = Mar 25, 2004 | url = http://www.bizjournals.com/sanfrancisco/stories/2004/03/22/daily34.html | access-date = May 6, 2016 }}</ref> DigitalThink helped Convergys expand its human resources outsourcing business.

On November 4, 2004 Convergys announced they had acquired Finali, a Westminster, Colorado based company, for $25 million in cash.<ref>{{Cite web |date=2004-11-01 |title=Convergys Expands Business Transformation Outsourcing Services with Acquisition of Finali |url=https://www.speechtechmag.com/Articles/News/Speech-Technology-News/Convergys-Expands-Business-Transformation-Outsourcing-Services-with-Acquisition-of-Finali--33134.aspx |access-date=2025-02-20 |website=Speech Technology Magazine |language=en-US}}</ref>  Finali provided integrated customer support and sales support management services for e-commerce sites.

Convergys acquired Intervoice, a Dallas-based telecommunications company, in 2008 for $335 million.<ref>{{cite news | newspaper = The New York Times | title = Convergys to Acquire Intervoice for $335 Million | url = https://dealbook.nytimes.com/2008/07/17/convergys-to-acquire-intervoice-for-335-million/ | date = Jul 17, 2008 | access-date = May 4, 2016 }}</ref>

Convergys sold its Human Resources Management line of business to NorthgateArinso in March 2010.<ref name="NorthgateArinso">{{cite news | newspaper = The Wall Street Journal | first = Daniel | last = Hausmann | title = KKR-Backed Deal Offers Alternative to Scranton-Style HR | url = https://blogs.wsj.com/privateequity/2010/03/05/kkr-backed-deal-offers-alternative-to-scranton-style-hr/ | date = Mar 5, 2010 | access-date = May 2, 2016 }}</ref>

On March 22, 2012, [[Japan]]ese technology firm [[NEC]] announced it would buy the ''Information Management Business'' of Convergys for approximately $449 million.<ref>{{cite web | website = CIO | first = Jay | last = Alabaster | title = NEC to Acquire Convergys Data Management Business for US$449 Million | url = http://www.cio.com/article/2398014/mergers-acquisitions/nec-to-acquire-convergys-data-management-business-for-us-449-million.html | date = Mar 22, 2012 | access-date = May 2, 2016 | archive-date = November 23, 2015 | archive-url = https://web.archive.org/web/20151123202905/http://www.cio.com/article/2398014/mergers-acquisitions/nec-to-acquire-convergys-data-management-business-for-us-449-million.html | url-status = dead }}</ref> In 2012, Convergys Philippines, 8 years after its entry into the country established 18 centers with 26,000 employees in all, was named “[[Business process outsourcing|BPO]] Employer of the Year” at the annual International ICT Awards.<ref>{{cite news | title=Convergys named BPO 'employer of the year' | url = http://news.abs-cbn.com/business/04/20/12/convergys-named-bpo-employer-year | publisher=[[ABS-CBN Corporation]] News |date= Apr 20, 2012 | access-date = May 2, 2016 }}</ref>

On April 3, 2013, Convergys completed the acquisition of New Zealand-based Datacom call center operations in Kuala Lumpur and Manila for $20 million.<ref>{{ cite news | publisher = ARN | first = Julia | last = Talevski | title = Datacom sells Asia BPO assets for $20 million | url = http://www.arnnet.com.au/article/458062/datacom_sells_asia_bpo_assets_20_million/ | date = Apr 4, 2013 | access-date = May 2, 2016 }}</ref>

On January 6, 2015, Convergys and [[Stream Global Services]] announced entry into a definitive merger. Under the agreement, Convergys would acquire Stream for a total enterprise value of $820 million in cash.<ref>{{ cite news | first = Soham | last = Chatterjee | editor-first = Maju | editor-last = Samuel | publisher = Reuters | url = https://www.reuters.com/article/us-stream-convergys-deal-idUSBREA0512B20140106 | title = Customer services provider Convergys to buy Stream Global | date = Jan 6, 2014 | access-date = May 2, 2016 }}</ref> On March 3, 2014, Convergys completed the acquisition of Stream creating the 2nd largest [[Business process outsourcing|BPO]] provider in the outsourcing industry. The merger brought their total employees to approximately 125,000 with 150 centers in 31 countries supporting 47 languages.<ref>{{cite web | website = Nearshore Americas | first = Narayan | last = Ammachchi | title = Convergys Completes Acquisition of Stream | url = http://www.nearshoreamericas.com/convergys-closes-acquisition-stream/ | date = Mar 4, 2014 | access-date = May 2, 2016 }}</ref>

In August 2016, Convergys acquired the [[buw Holding]] group.<ref>{{Cite web |title=Carlsquare advised US BPO acquires Germany’s company buw |url=https://carlsquare.com/deal-history/leading-us-bpo-provider-convergys-acquires-germanys-largest-owner-operated-customer-management-company-buw/ |access-date=2025-02-20 |website=Carlsquare Corporate Finance |language=en-US}}</ref>

== Synnex acquisition ==

On June 28, 2018, Convergys and [[Synnex]] announced they had reached a definitive agreement in which Synnex would acquire Convergys for $2.43 billion in combined stock and cash, and integrate it with [[Concentrix]].

On October 5, 2018, Convergys and Synnex announced that they had completed the merger.<ref>{{cite web |title=SYNNEX Corporation Completes Transaction with Convergys Corporation |url=https://newsroom.convergys.com/press-release/synnex-corporation-completes-transaction-convergys-corporation |website=convergys.com |access-date=October 5, 2018 |language=en }}{{Dead link|date=December 2023 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>

== References ==
{{Reflist|30em}}

== External links ==
* {{Official website | http://www.convergys.com/}}
{{Finance links
| name    = Convergys Corporation
| symbol  = CVG
| sec_cik = 1062047
| hoovers = CONVERGYS_CORPORATION.381954cb9dea51aa
}}
* {{OpenCorp|Convergys}}

{{Cincinnati Bell}}
{{Authority control}}

[[Category:Companies formerly listed on the New York Stock Exchange]]
[[Category:Business services companies established in 1998]]
[[Category:Companies based in Cincinnati]]
[[Category:Business process outsourcing companies]]
[[Category:Call centre companies]]
[[Category:Cincinnati Bell]]
[[Category:1998 establishments in Ohio]]
[[Category:Telecommunications billing systems]]
[[Category:2018 mergers and acquisitions]]
[[Category:1998 initial public offerings]]