IBM has found strategic agreement with SYNNEX: stakes and opportunities.

We are still accustomed to hear that, IBM has realized acquisitions to consolidate its portfolio. But today you can discover that SYNNEX will acquire IBM's worldwide customer care business process outsourcing services business for $505 million,
consisting of approximately $430 million in cash and $75 million in stock.

Under agreement, the acquisition will be branded and fully integrated with Concentrix, a wholly owned subsidiary of SYNNEX.  In addition, SYNNEX will enter 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 the satisfaction of regulatory requirements and customary closing conditions. After the transaction closes, IBM will have an equity interest in SYNNEX.  

About SYNNEX 

SYNNEX Corporation, a Fortune 500 corporation, is a leading business process services company, servicing resellers, retailers and original equipment manufacturers in multiple regions around the world. SYNNEX provides services in IT distribution, supply chain management, contract assembly and business process outsourcing. Founded in 1980, SYNNEX employs approximately 12,500 full-time and part-time associates worldwide.

 About Concentrix  

Concentrix Corporation is the global business services division of SYNNEX Corporation with award-winning expertise in providing our clients with platforms and services to enable their customer strategy. From locations in the Philippines, China, Costa Rica, Nicaragua, Canada, the United States, United Kingdom, Hungary, India and Japan, our more than 8,000 employees support millions of transactions in multiple languages and countries worldwide. Concentrix Corporation is a wholly owned subsidiary of SYNNEX Corporation (NYSE:SNX), a Fortune 500 company.