Sitel Group, a global providers of customer experience products and solutions, has completed acquisition of Sykes Enterprises Inc.. A subsidiary of Sitel Group has acquired all outstanding shares of Sykes common stock in an all-cash transaction valued at approximately $2.2 billion, delisting the formerly publicly traded company from Nasdaq. Sykes is is an American multinational business process outsourcing provider.
“I am pleased to announce that Sitel Group has completed the acquisition of SYKES. This combination significantly widens our global reach and diversifies our product and service offerings to benefit our customers,” said Laurent Uberti, president, CEO and co-founder, Sitel Group. “We have maintained our entrepreneurial spirit and dynamism from day one, and I am confident that as we continue to grow, we will remain true to our founding ethos – providing exceptional customer service while maintaining the human touch in everything we do, even as we take further advantage of technological innovation.”
“Post-COVID-19, our industry is faced with vast digital disruption and this acquisition puts Sitel Group in a position to deliver rapid and tangible customer benefits built around digital expertise,” said Olivier Camino, global COO and co-founder, Sitel Group. “By leveraging the power of EXP+, our Enterprise Experience Platform, with the digital transformation capabilities SYKES brings, our customers can harness this expertise in digital, social media and robotic process automation to deliver best-in-class experiences for their customers. Furthermore, we believe the employee experience is the customer experience and we’re excited about continuing our story together and, with the help of our talented team around the world, bringing our Sitel MAX methodology to life.”
This acquisition gives customers of both organizations access to new products and capabilities. The Sykes Enterprises, Inc. family, including SYKES Digital Services and Clearlink, helps customers create the best possible digital CX at each stage in the customer journey, which is a goal of Sitel Group as it moves into this next chapter. Additionally, these capabilities will help drive differentiation and competitive advantage, capitalizing on the trend toward vendor consolidation; expanded service offerings that can scale across the global markets, verticals and client portfolios; broadening the addressable market opportunity as it enables a greater share of the CX management value chain; and creating more entry points to capture new customers.
With a worldwide presence on every continent, the redesigned Sitel Group has elevated its influence as a top 3 global CX leader, establishing a gap in excess of $2 billion between them and second-tier players in the industry. The added strength of Sykes Enterprises, Inc. effectively positions Sitel Group to offer the best digital products and solutions that ensure an extraordinary customer experience for customers today and tomorrow.