SYNNEX Corporation Announces Acquisition of gem
Acquisition Adds Social Enterprise Support, Expanded EMEA Service Delivery and Complimentary Customer Base
Fremont, Calif., - September 27, 2011
Concentrix Corporation, SYNNEX Corporation’s (NYSE: SNX) Business Services segment, today announced it has acquired gem. gem is a European-based provider of customer contact solutions that supports a global customer base in 28 languages from locations in Belfast, Northern Ireland and Debrecen, Hungary.
“This acquisition is complementary to Concentrix’ services and geographic footprint. gem’s growing social enterprise practice and the ability to effectively capture and analyze information exchanged in social communities will be a key competitive differentiator for Concentrix to give our customers better insight into their overall markets,” stated Chris Caldwell, Senior Vice President and General Manager, Global Business Services. “With the acquisition of gem, Concentrix will have over 7,500 employees around the world, operating in 10 countries and delivering support in all major languages.”
“Over the last decade, gem has built an enviable list of customers and a very talented staff. We are confident that Concentrix will strengthen our relationships with current customers and further enable continued global expansion,” said Philip Cassidy, gem’s founder and Chief Executive Officer. “We look forward to becoming part of the Concentrix team.”
gem has approximately $25 million in annual revenues and employs approximately 700 staff primarily in Ireland. It has gained recognition from leading industry analysts as a pioneer in leveraging new media and community networks to provide clients with more relevant and meaningful information about their customers which leads to enhanced interactions and a more pro-active response model.
gem is an award-winning European provider of global customer contact solutions in 28 languages. Recognized as an innovative company, gem was recently named a 2010 “Cool Vendor” by Gartner in recognition of the Company’s development of a proprietary social media-as-a-service platform to enhance customer service and support. For more information, visit: www.the-gem.com.
About Concentrix Corporation
Concentrix Corporation is the global business process outsourcing division of SYNNEX Corporation with award-winning expertise in providing our clients with platforms and services to support the customer lifecycle. From locations in the Philippines, China, Costa Rica, India, Nicaragua, the United States, United Kingdom and Japan, our more than 7,500 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. For more information, please visit www.concentrix.com.
Safe Harbor Statement
Statements in this press release regarding SYNNEX Corporation or Concentrix Corporation, which are not historical facts, are "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. These forward-looking statements may be identified by terms such as believe, expect, may, will, provide, could and should and the negative of these terms or other similar expressions. These statements, including statements regarding the anticipated benefits of the acquisition, including strengthening of gem’s client relationships and continued global expansion, our ability to leverage gem’s growing social enterprise practice, the strengthening of our competitive position, the anticipated number of employees, countries of operation and support languages, are subject to risks and uncertainties that could cause actual results to differ materially from those discussed in the forward-looking statements. These risks and uncertainties include, but are not limited to: the successful integration of gem; loss of gem’s customers; general economic conditions and any weakness in IT and consumer electronics spending; the loss or consolidation of one or more of our significant OEM suppliers or customers; market acceptance of our services; competitive conditions in our industry and their impact on our margins; pricing, margin and other terms with our customers; our ability to gain market share; changes in our costs and operating expenses; changes in foreign currency exchange rates; changes in the tax laws; risks associated with our international operations; credit exposure to our reseller customers; and negative trends in their businesses; and other risks and uncertainties detailed in our Form 10- Q for the fiscal quarter ended May 31, 2011 and from time to time in SYNNEX Corporation’s SEC filings. Statements included in this press release are based upon information known to SYNNEX Corporation and Concentrix Corporation as of the date of this release, and SYNNEX Corporation and Concentrix Corporation assume no obligation to update information contained in this press release.
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