IBM Sells Off Customer Care BPO Unit For $505M

ConcentrixIBM and Synnex have signed a definitive agreement in which Synnex will acquire IBM’s worldwide customer care business process outsourcing services business for $505 million.

The acquisition will be branded and fully integrated with Concentrix, a wholly owned subsidiary of Synnex. IBM will have a equity investment in Synnex after the close of the transaction as well.

As part of the transaction, Synnex is also entering into a multi-year agreement with IBM, and Concentrix will become an IBM strategic business partner for global customer care business process outsourcing services.

The transaction is expected to close in the coming months, subject to regulatory requirements and customary closing conditions. While the transaction is being completed, the companies will continue to operate independently and IBM customer care business process outsourcing services will continue to be sold and delivered as usual, says IBM.

Synnex, a Fortune 500 corporation, is a business process services company, servicing resellers and original equipment manufacturers in multiple regions around the world. The company’s primary business process services are wholesale distribution, contract assembly, and business process outsourcing.

[Image courtesy: Concentrix] 

Also see:

IBM opening its first quantum computing data system in Europe

IBM is opening its first quantum data center in Europe. The data center, slated for operation by 2024, will house multiple IBM quantum computing systems featuring utility scale quantum processors, each with over 100 qubits.

Coinbase faces SEC charges over unregistered operations

The Securities and Exchange Commission (SEC) has initiated a legal complaint against Coinbase, alleging that the cryptocurrency exchange has been operating without proper registrations.

Capgemini launches 6G research lab in India

Capgemini has announced the establishment of a new 6G research lab in Gurugram, India. The lab will focus on developing advanced test beds and simulators for exploring use cases.