Business
ServiceSource International, Inc. to be Acquired by Concentrix Corporation in All-Cash Transaction
Transaction Combines Highly Complementary Customer Experience (CX) Solutions Businesses Unifies Best-in-Class Digitally-Enabled Capabilities to Support the
About this update from Concentrix Corporation
[{"type":"text","content":"\nTransaction Combines Highly Complementary Customer Experience (CX) Solutions Businesses\n\nUnifies Best-in-Class Digitally-Enabled Capabilities to Support the Entire Customer Journey for B2B and B2C Clients\n\n47% Premium for ServiceSource Stockholders\n\nTransaction was Unanimously Approved by ServiceSource’s Board of Directors\n\nStockholders Representing Approximately 33.5% of the Outstanding Voting Power Have Entered Into Voting Agreements in Support of the Transaction\n\n DENVER--(BUSINESS WIRE)--\nServiceSource International, Inc. (NASDAQ: SREV), the customer journey experience company, today announced it has entered into a definitive merger agreement pursuant to which Concentrix Corporation (NASDAQ: CNXC), a leading global provider of customer experience (CX) services and technologies, will acquire ServiceSource in an all-cash transaction. ServiceSource stockholders will receive $1.50 per share in cash for each issued and outstanding share of common stock they own. The purchase price represents a 47% premium to ServiceSource’s unaffected closing stock price on May 6, 2022.\n\n“We are delighted to join forces with Concentrix and the opportunity it provides for us to execute on our strategy to drive client success by bringing the world’s greatest brands closer to their customers,” commented Gary B. Moore, ServiceSource’s chairman and chief executive officer. “This transaction marks an important milestone in our 20-plus year history and is a testament to the dedication of our employees, the value of our differentiated solutions in the marketplace, and the opportunity to take the business to new heights with a partner that has shared values and culture. I am confident that our world-class employees will gain expanded career and professional growth opportunities as part of a much larger, industry-leading global organization, and I am equally confident that our clients will be even better served through the breadth, depth, and scope of our combined capabilities and scale. We look forward to a seamless transition and executing on a shared vision of the future of CX.”\n\nJohn Harris, ServiceSource’s Lead Independent Director, said, “The board of directors is pleased to have reached this agreement, which represents the culmination of a robust process and a comprehensive review of strategic alternatives with our outside legal and...