CINCINNATI-In a move designed to improve its market share in the billing and customer-care business, Convergys Corp. said it is acquiring certain acquiring certain billing and customer-care assets from Alltel Communications Inc.
The deal, which should close Dec. 31, will cost Convergys $37 million, representing approximately one times the anticipated 2004 revenue, Convergys said. As part of the acquisition, Convergys will begin providing billing services to more than 10.5 million additional wireless and wireline subscribers and will add several new corporations to its list of billing and customer-care clients, including Cingular Wireless L.L.C. “This strategic acquisition provides us with additional wireless and wireline market share, important new clients, and fuels the growth of our professional services,” said Dave Dougherty, executive vice president, global information management at Convergys.
As part of the agreement, more than 220 Alltel employees will join Convergys, supporting clients in North America and the Caribbean region.
