Call service company Stream Global has recently purchased LBM Holdings Limited, a U.K.-based company consisting of six call centers, for nearly $44 million in an effort to enhance its sales and offered services.
The acquisition will add 2,500 employees to Stream Global's already 37,000 employees,
whom are working among 50 call centers throughout 22 countries. US locations of Stream Global include Beaverton, Eagan, Sergeant Bluff, Watertown, Belleville, Phoenix, Rio Rancho and Tampa.
“This transaction is about delivering greater value to our clients and long-term growth for our company,” Kathy Marinello, chairman and CEO of Stream Global, said in a statement. “LBM has proven experience in creating highly precise target lists of people who will be more inclined to buy products and services. LBM's people, expertise and capabilities, combined with Stream's financial strength, global presence, and sales and service offerings, will establish a broader portfolio of high-value service offerings for our clients.”
Since 2004, LBM has mainly been owned by ISIS Equity Partners, a London-based investor.
The new business pairing is said to provide clients with complimentary services. While Stream Global provides sales, technical support and customer care services, LBM offers demand and lead generation services.
“This is a tremendous opportunity to extend the value and service offerings we bring to clients on a much larger scale and to provide new opportunities for our employees," Nicola Beamish, chief financial officer at LBM, said in a statement. “We look forward to the opportunity to add value to our existing clients and to grow with a company that has a global presence, strong reputation, and an exceptional client base.”
In related news, Stream Global recently announced its financial results for the 2012 year. The company reported obtaining $860 million in revenue, a two percent increase from 2011, and adjusted earnings amounting to $101 million, a 14 percent increase compared to 2011.