Stream Global Services

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Stream Global Services, Inc.
Type Public
Industry Business Process Outsourcing
Headquarters Eagan, Minnesota, U.S.
Revenue IncreaseUS$2,100,000 (2007)[1]
Net income IncreaseUS$1,100,000 (2007)[1]
Employees 37,000+ (2013)[2]
Website stream.com

Stream Global Services (formerly known as Global BPO Services Corp.),[3] provides BPO services for Fortune 1000 clients,[4] with more than 37,000 employees in 22 countries[5] in 50 contact centers; it currently manages more than 100 million voice, e-mail, and chat contacts a year.[6] The footprint of the company includes countries across North America, Europe, Asia Pacific, Latin America, Middle East and Africa delivering service in over 35 languages[7]

History[edit]

Global BPO Services Corp. was founded by R. Scott Murray[8] in 2007. Global BPO Services raised $250 million in an IPO of a Special Purpose Acquisition Corp in October 2007. It closed the acquisition of Stream Holdings Corporation in July 2008 for $300 million in cash and assumption of debt. In connection with the acquisition of Stream, the company completed a private stock sale to Ares Management for $150 million and a tender offer for most of the publicly held shares of Stream, except those held by the founders of Global BPO Services.

On October 1, 2009, Stream Global Services, Inc. acquired e-Telecare in a stock for stock merger valued at approximately $225 million. e-Telecare brought over 10,000 employees and substantial operations in the Philippines. In connection with the merger, the company raised $200 million in a public debt offering led by Goldman Sachs.

The combined company provided a variety of BPO Services including customer care, technical support, marketing services, customer acquisition and retention to some of the worlds largest technology, telecommunication and software companies that included Hewlett Packard, Dell, Apple, Microsoft, Intuit, AT&T, Sprint, RedBox, DishNetwork, Rogers, and Bell Canada.

In 2010 Chairman and CEO R. Scott Murray resigned to return to the investment industry. On June 1, 2011, Trillium Capital LLC, owned by R. Scott Murray, the founder and former CEO of Stream, made an offer to acquire 100% of Stream for $4.65 per share plus assumption of debt. The non-binding proposal also included a provision to extend the exercisability of the public warrants by two years that would otherwise expire in October 2011. The transaction had a total enterprise value of approximately $575 million. The offer was subsequently turned down by the private equity shareholders, who were represented by Ares Capital, Providence Equity Partners and Ayala Corp. Trillium Capital LLC and R Scott Murray agreed to sell its ownership back to the company. Stream was subsequently taken private in 2012 by the three private equity owners at the same price that Trillium Capital sold its shares to the company.

Corporate Overview[edit]

Stream logo from 2008-2011

Stream Global Services is a business process outsource (BPO) service provider specializing in customer relationship management including inbound & outbound sales, customer care, customer retention, back office and technical support & warranty.

Clients[edit]

Some of Stream Global Services notable clients include Dell, Salesforce.com, Western Digital, Dish Network, Rogers Wireless, HP, Intuit, Nike and Microsoft.

Locations[edit]

North America (NA)

Europe, Middle East and Africa (EMEA)

Latin America (LATAM)

Asia Pacific (APAC)

Acquisition[edit]

On January 6, 2014, Convergys and Stream announced entry into a definitive merger. Under the agreement, Convergys will acquire Stream for a total enterprise value of $820 Million in cash.[9]

References[edit]

External links[edit]