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Convergys Completes Acquisition of Finance & Accounting Outsourcing Business of Deloitte Consulting Outsourcing

 

August 8, 2005, Cincinnati, Ohio - Convergys Corporation (NYSE: CVG), a global leader in providing customer care, human resources, and billing services, announced today it has completed the acquisition of the Finance and Accounting (F&A) Business Process Outsourcing (BPO) business of Deloitte Consulting Outsourcing LLC, a subsidiary of Deloitte Consulting LLP.

Today's closing finalizes a definitive agreement between Deloitte Consulting Outsourcing and Convergys first announced on June 16, 2005. At that time, Convergys stated the acquisition would be neutral to its 2005 earnings per share. Deloitte Consulting Outsourcing's F&A BPO business provides finance and accounting outsourcing services to clients in multiple industries ranging from communications to retail to professional services. It provides business processing and technology services supporting clients from procurement to payment, financial reporting, reconciliations, budgeting, and treasury management functions.

"Convergys is already an established leader in the HR BPO market, so this acquisition is a strategic extension of Convergys' service offerings that will leverage our existing HR and customer care expertise and experience, advanced technologies, global reach, and strong client relationships," said Steve Rolls, Executive Vice President, Global Customer Management and Employee Care for Convergys. "Finance and accounting BPO is a fast-growing market and this acquisition provides proven F&A BPO expertise developed over the last 10 years by one of the leading financial services organizations. At the same time, it positions Convergys to expand our footprint to a whole new horizontal market and accelerate revenue growth in our customer management business."

"This move is highly beneficial for Convergys," said Industry Analyst Anna Danilenko, Program Manager of F&A BPO and Consulting services, IDC. "The acquisition is expected to benefit Convergys' core business and well position it to capitalize on a rapidly growing F&A BPO market."

About Convergys
Convergys Corporation (NYSE: CVG) is a global leader in providing customer care, human resources, and billing services. Convergys combines specialized knowledge and expertise with solid execution to deliver outsourced solutions, consulting services, and software support. Clients in more than 60 countries speaking nearly 30 languages depend on Convergys
to manage the increasing complexity and cost of caring for customers and employees. Convergys serves the world's leading companies in many industries including communications, financial services, technology,  and consumer products.

Convergys is a member of the S&P 500 and a Fortune Most Admired Company. Headquartered in Cincinnati, Ohio, Convergys has more than 62,000 employees in 67 customer contact centers, three data centers, and other facilities in
the United States, Canada, Latin America, Europe, the Middle East, and Asia. For more information visit www.convergys.com

Convergys and the Convergys logo are registered trademarks of Convergys Corporation.
 


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