Concentrix and Webhelp Complete Combination, Creating a Diversified Global CX Leader, Well-Positioned for Growth (2024)

NEWARK, Calif., 25 September 2023 (GLOBE NEWSWIRE) — Concentrix Corporation (NASDAQ: CNXC), a leading global provider of customer experience (CX) services and technologies, today announced it has closed its combination with Webhelp and the integration of the two companies is underway. While the combined company finalizes its permanent name, it will operate under the trade name Concentrix + Webhelp.

This combination further positions Concentrix + Webhelp as a global CX leader, with an expanded breadth of generative AI solutions, digital capabilities, and high-value services. It also strengthens its end-to-end CX value proposition, with one of the most robust, well-balanced global footprints in the industry to help the world’s best brands transform customer experiences and achieve their business goals.

“I am excited to embark on this new journey together and believe that, with our combined strengths, we are uniquely positioned to redefine the industry and design, build and run the future of CX for our amazing and valued clients. I want to thank our game-changers around the world who have made this possible. I am truly honored to work with such a diverse and talented team,” said Chris Caldwell, CEO of Concentrix + Webhelp.

The company also welcomes two new members to the Board of Directors, Olivier Duha and Nicolas Gheysens. Olivier is an entrepreneur, philanthropist, co-founder, and former CEO of Webhelp and will serve as Vice Chair of the Board. Nicolas is a Partner at Groupe Bruxelles Lambert (“GBL”), the company’s largest shareholder following the Concentrix + Webhelp combination, and brings with him a wealth of investment and board experience, backing the growth of large and successful businesses across Europe.

“We are fortunate to add such strong skill sets with deep background in the customer experience industry to our Board. With the addition of Olivier and Nicolas, we expand our international expertise in leading large, complex multinational companies on a successful path for growth,” said Kathryn Marinello, Concentrix Chair of the Board.

This combination is a milestone moment, bringing together two recognized market leaders with complementary cultures, footprint, capabilities, and vision for growth across more than 70 countries. At closing, the transaction was valued at approximately $4 billion, including net debt.

About Concentrix + Webhelp
Hi, we’re a leading global provider of customer experience (CX) solutions and technology. We create game-changing customer journeys for some of the world’s best brands, and the ones that are changing the world as we know it. Every day, we Design, Build and Run CX that helps brands grow across the world and into the future. Whether it’s a specific solution or the whole end-to-end journey — we’ve got it covered. We’re the strategic thinkers who design brand-defining experiences. The tech geeks who build smarter solutions. And the operational experts who run it all and make it work seamlessly. Across 70+ countries and six continents, we provide services across key industry verticals including technology & consumer electronics; retail, travel & ecommerce; banking, financial services & insurance; healthcare; communications & media; automotive; and energy & public sector. Concentrix Corporation (NASDAQ: CNXC) operating under the trade name Concentrix + Webhelp. Location: virtually everywhere. Visit concentrix.com to learn more.

Safe Harbor Statement

This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include, but are not limited to, statements regarding the integration of the Concentrix and the Webhelp businesses, the strengths and differentiation of the combined businesses, our positioning in the industry, and statements that include words such as believe, expect, may, will, provide, could and should and other similar expressions. These forward-looking statements are inherently uncertain and involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things: risks related to the ability to successfully integrate the Concentrix and Webhelp businesses; our ability to realize estimated cost savings, synergies or other anticipated benefits of the combination, or that such benefits may take longer to realize than expected; diversion of management’s attention; the potential impact of the combination on relationships with clients and other third parties; risks related to general economic conditions, including consumer demand, interest rates, inflation, supply chains and the effects of the conflict in Ukraine; cyberattacks on our or our clients’ networks and information technology systems; the failure of our staff and contractors to adhere to our and our clients’ controls and processes; the inability to protect personal and proprietary information; the inability to execute on our digital CX strategy; the loss of key personnel or the inability to attract and retain staff with the skills and expertise needed for our business; increases in the cost of labor; the effects of the COVID-19 pandemic and other communicable diseases, natural disasters, adverse weather conditions or public health crises; geopolitical, economic and climate- or weather-related risks in regions with a significant concentration of the our operations; the inability to successfully identify, complete and integrate strategic acquisitions or investments; competitive conditions in our industry and consolidation of our competitors; higher than expected tax liabilities; the demand for CX solutions and technology; variability in demand by our clients or the early termination of our client contracts; the level of business activity of our clients and the market acceptance and performance of their products and services; currency exchange rate fluctuations; the operability of our communication services and information technology systems and networks; changes in law, regulations or regulatory guidance; damage to our reputation through the actions or inactions of third parties; investigative or legal actions; and other factors contained in the Company’s Annual Report on Form 10-K for the fiscal year ended November 30, 2022 filed with the Securities and Exchange Commission and subsequent SEC filings. We do not undertake a duty to update forward-looking statements, which speak only as of the date on which they are made.

Copyright 2023 Concentrix Corporation

All rights reserved. Concentrix, Webhelp, Concentrix + Webhelp, the Concentrix and Webhelp logos, and all other Concentrix company, product and services names and slogans are trademarks or registered trademarks of Concentrix Corporation and its subsidiaries. Concentrix and the Concentrix logo Reg. U.S. Pat. & Tm. Off. and applicable non-U.S. jurisdictions. Other names and marks are the property of their respective owners.

Investor Contact:
David Stein
Investor Relations
Concentrix Corporation
+1-513-703-9306

[emailprotected]

Media Contact:
Debbie Gonzalez

Marketing & Communications
Concentrix Corporation

[emailprotected]

Concentrix and Webhelp Complete Combination, Creating a Diversified Global CX Leader, Well-Positioned for Growth (2024)

FAQs

What is the combination name of Concentrix and Webhelp? ›

Concentrix Corporation (NASDAQ: CNXC) operating under the trade name Concentrix + Webhelp.

Why did Concentrix acquire Webhelp? ›

Going deeper on the advantages Concentrix + Webhelp can offer customers, Caldwell added: “This combination brings new expertise such as know your customer and anti-money laundering and payment services for our financial clients.

What is the new name for Concentrix and Webhelp? ›

Concentrix + Webhelp is now Concentrix • KosovaPress. Read about: 6 min. The company's rebranded identity reinforces its position as the overall technology leader and service organization leader, empowering the brands of the future.

What does Concentrix Webhelp do? ›

About us: Experience the power of Concentrix

We're human-centered, tech-powered, intelligence-fueled. Every day, we design, build, and run fully integrated, end-to-end solutions at speed and scale across the entire enterprise, helping over 2,000 clients solve their toughest business challenges.

How much did Concentrix pay for Webhelp? ›

March 29 (Reuters) - Concentrix Corp (CNXC. O) , opens new tab will buy Paris-based outsourcing and consultancy firm Webhelp in a $4.8 billion deal, the business services provider said on Wednesday, to expand outside North America and add clients in fast-growing markets.

What are the 3 V's of Concentrix? ›

We are Concentrix!

Is Webhelp Concentrix closing? ›

We are pleased to announce that on September 25th, 2023, Webhelp and Concentrix Corporation, two leading global providers of customer experience services and technologies, have closed their combination in a transaction valuing Webhelp at approximately $4.0 billion, including net debt.

Who is Concentrix owned by? ›

Concentrix, a wholly-owned subsidiary of SYNNEX Corporation (NYSE: SNX), is a technology-enabled global business services company specializing in customer engagement and improving business performance for some of the world's best brands.

Who is the competitor of Concentrix? ›

Concentrix's alternatives and competitors. See how Concentrix compares to similar products. Concentrix's top competitors include iQor, CCD, and Catalyst. iQor specializes in customer experience transformation and outsourced customer support within the business process outsourcing (BPO) industry.

Is Concentrix a Google company? ›

As a Google Premier partner, we're helping the world's leading brands create, discover, automate, and draw insights with Google Vertex AI, Gen AI App Builder, and Google Large Language Models (LLMs).

Who is CEO of Concentrix? ›

A performance-driven, insightful, and enthusiastic leader who champions our culture every day, Chris leads Concentrix' efforts to revolutionize the industry and become the greatest CX solutions company in the world, rich in diversity and talent.

Is IBM owned by Concentrix? ›

Concentrix was founded in 1969, its heritage can be traced back to 1973 to its insurance administration business solutions and services which were acquired in 2013 by Concentrix from IBM. Concentrix has grown through multiple acquisitions, bringing on board eight companies since 2006.

When did Concentrix acquire WebHelp? ›

NEWARK, Calif., March 29, 2023 (GLOBE NEWSWIRE) -- Concentrix Corporation (Nasdaq: CNXC), a leading global provider of customer experience (CX) services and technologies, today announced they have entered into an agreement to combine with Webhelp in a transaction valued at approximately $4.8 billion, including net debt ...

Where is Concentrix Webhelp headquarters? ›

Concentrix + Webhelp is headquartered in Newark, 39899 Balentine Drive. Ste 235, United States, and has 320 office locations.

What is the highest salary in Webhelp? ›

What is the highest salary in Webhelp? The highest-paying job at Webhelp is a Head Operations with a salary of ₹34.8 Lakhs per year. The top 10% of employees earn more than ₹9 lakhs per year. The top 1% earn more than a whopping ₹31.14 lakhs per year.

Is Concentrix and IBM same company? ›

Concentrix was founded in 1969, its heritage can be traced back to 1973 to its insurance administration business solutions and services which were acquired in 2013 by Concentrix from IBM. Concentrix has grown through multiple acquisitions, bringing on board eight companies since 2006.

What is the full company name of Concentrix? ›

Company Overview

Concentrix Corporation (Nasdaq: CNXC), is a leading global provider of customer experience (CX) solutions and technology, improving business performance for some of the world's best brands including over 100 Fortune Global 500 clients and over 125 new economy clients.

Who is the parent company of Webhelp? ›

Webhelp was acquired by Concentrix for $4.8B on Mar 29, 2023 .

Is WebHelp Concentrix closing? ›

We are pleased to announce that on September 25th, 2023, Webhelp and Concentrix Corporation, two leading global providers of customer experience services and technologies, have closed their combination in a transaction valuing Webhelp at approximately $4.0 billion, including net debt.

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