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Fremont, a California-based Synnex Corporation has recently acquired IBM's worldwide customer care business process outsourcing services business, IBM Daksh for $505 mn and merged it with their global business services division, Concentrix catapulting it to the largest business processing outsourcing employer in India and among the top five in the world. The deal will consist of approximately $430 mn in cash and $75 mn in stock. The acquisition will be branded and fully integrated with Concentrix, a wholly owned subsidiary of Synnex. The firm recently added a new facility in Gurgaon.
As part of the transaction, Synnex will enter into a multi-year agreement with IB, and Concentrix will become an IBM strategic business partner for global customer care business process outsourcing services. Post-transaction, IBM will have an equity interest in Synnex. While the transaction is being completed, the companies will continue to operate independently and IBM customer care business process outsourcing services will continue to be sold and delivered as usual. Through the acquisition...