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
"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."
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
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
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
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