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http://news.moneycentral.msn.com/provider/providerarticle.asp?feed=AP&Date=20061013&ID=6101686



ClientLogic Buys Sitel Corp. for $450M

All Associated Press NewsNEW YORK (AP) - ClientLogic, a privately held business services outsourcing company, said Friday it would acquire customer service provider Sitel Corp. for $4.05 per share in cash, or a total of $450 million.

The acquisition price represents a 15 percent premium over Omaha, Neb.-based Sitel's Thursday closing price of $3.52 on the New York Stock Exchange. Its shares rose 40 cents, or 11.4 percent, to $3.92 in premarket electronic trading.

ClientLogic, based in Nashville, Tenn., is a unit of Onex Corp., a Toronto-based investment firm.

Both companies' board of directors have approved the deal, which is expected to close in the first quarter of 2007 pending shareholder and regulatory approval.

The new entity will be named ClientLogic Corp. and employ about 65,000 workers in 28 countries. Dave Garner, president and chief executive officer of ClientLogic, will be CEO of the combined company.

© 2006 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

So why should you care about this. Well for one thing they become one of the largest outsourced customer service companies in the world. There is a good chance that if you call for customer service or even techsupport you may be talking to clientlogic.

They handle customer service or tech support for a few companies you may have heard of.
Blizzard
People pc
Earthlink
Bellsouth.
Tivo
verizon
Dell
Royal Bank of Scottland
and a number of other companies.

Comments

( 2 comments — Leave a comment )
tomdpimp
Oct. 20th, 2006 01:14 pm (UTC)
Lets not forget that the also employ you and me.
thomas_rhymer
Oct. 20th, 2006 02:11 pm (UTC)
i met what i belive is the head honcho in knoxville. he seemed like a really decent guy.
( 2 comments — Leave a comment )

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