The US-based Convergys Corporation is set to acquire Germany-based buw for EUR 123 million in cash.
Buw, a 23-year old company, has a strong geographic footprint, client base, and German language capabilities. The acquisition of Buw will assist Convergys to expand its presence in the growing EUR 3 billion German outsourced customer management services industry.
Jens Bormann and Karsten Wulf are the two founders and owners of buw.
As the largest owner-operated customer management company in Germany, buw will bring 16 sites and approximately 6,000 employees spread across Germany, Hungary and Romania into Convergys’ global operations.
buw is a growing and profitable business which generates approximately EUR 150 million annual revenue, providing end-to-end business process outsourcing (BPO) services to leading companies across a wide breadth of industries.
Convergys CEO Andrea Ayers said: “This accretive transaction will increase our capacity to serve the customer management BPO market in Germany, further diversify our marquee client base, and strengthen our relationships with the multinational clients we share.”