Convergys Puts Up $820M For Rival Stream Global

Law360, New York (January 6, 2014, 7:54 PM EST) -- Customer management provider Convergys Corp. agreed to acquire rival Stream Global Services Inc. for $820 million in cash, though the amount may face adjustment from shareholders, the companies said Monday.

The combined company's revenue will climb above $3 billion, according to Convergys, which is financing the deal with $400 million in cash, a new $350 million term loan and existing credit facilities, it said. The deal will expand Convergys' reach out into multiple continents and industries and greatly diversify its offerings. The sellers include Ares Management,...
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