Sykes Enterprises, Incorporated, a U.S. customer management solutions and services provider, announced that it has agreed to acquire UK consulting, implementation, and managed services provider Symphony Ventures Limited.
Under the terms of the acquisition agreement, Sykes Enterprises will pay a cash purchase price of approximately 52 million pounds ($69 million) for 100 percent ownership of Symphony Ventures Limited, which is expected to be funded through a combination of cash on hand and the company’s credit facility.
The acquisition definitively positions Sykes as an early mover and a clear leader amongst its peers in its ability to support clients’ robotic process automation and intelligent automation initiatives globally across all facets of its business operations.
The deal further enhances Sykes’ service portfolio and creates additional differentiation in its go-to-market strategy to penetrate new clients and verticals and increase wallet share within existing clients. The transaction is subject to customary closing conditions and is expected to close on or about November 1, 2018.