Stream has now fully merged with Convergys, creating the second biggest BPO provider in the $55 billion global outsourcing industry. Cincinnati, Ohio-based Convergys disclosed its agreement to purchase Stream in the first week of of January.
The merger takes Convergys’ total workforce to 125,000 people, raising its annual revenue to $3 billion. With 150 delivery centers in 31 countries, Convergys will now offer customer care service in 47 languages.
“This acquisition is an important step forward in our plan for strategic growth and value creation,” said Andrea Ayers, president and CEO of Convergys. She has also announced plans to hire more than 6,000 employees in the Philippines, where the BPO provider is the biggest private sector employer.
Analysts say that the merger positions Convergys to capitalize on Stream’s local-language customer care services in Latin America and Europe. Stream has a significant presence in Nicaragua, Honduras, the Dominican Republic and El Salvador.
Stream’s merger with Convergys is also good news for Cost Rica. Stream left the Central American nation in 2013, but Convergys expanded there months later with the launch of new delivery center in the capital San Jose. Convergys, according to reports, employs nearly 3,000 people in Costa Rica.
Based in Eagan, Minnesota, Stream has 40,000 employees globally and provides customer relationship management services in 22 countries and 35 languages. Its clients include Hewlett-Packard, Microsoft Corp, Dell Inc, Salesforce.com Inc and Western Digital Corp.
Stream’s ability to provide customer care service in a wide range of European languages – such as Spanish and French – will aid Convergys to win more multinational customers globally, particularly in the the United States.