Concentrix Completes Acquisition of PK
FREMONT, Calif., – December 27, 2021 – Concentrix Corporation (Nasdaq: CNXC), a leading global provider of customer experience (CX) services and technologies, today announced that it has completed the recently announced acquisition of PK and the integration process is underway.
This transaction marks Concentrix’s first acquisition since becoming a publicly traded company. PK is one of the world’s leading digital CX design and engineering companies with more than 5,000 employees in 20 cities in four countries. PK has been recognized and awarded worldwide for designing and engineering large-scale digital experiences.
Acquisition supports Concentrix’s strategy of investing in digital transformation to deliver exceptional customer experiences and will strengthen the company’s ability to scale its digital capabilities faster while driving excellence in key high-growth areas of CX design and development, AI, intelligent automation and customer retention.
Regarding the PK acquisition, Concentrix CEO and President Chris Caldwell said, “The incredible talent of our collective teams has been a determining factor in this transaction, giving both companies the opportunity to leverage new capabilities, attract the best talent and, most importantly, continue to grow above the market. ”
As a result of this strategic transaction, the combination of these two leading vendors uniquely brings together the best of digital CX solutions and services globally.
Concentrix Corporation (Nasdaq: CNXC) is a leading global provider of customer experience (CX) solutions and technologies, improving business performance for some of the world’s best brands, including more than 100 Fortune Global 500 customers and above of 115 disruptive customers worldwide. Every day, in over 40 countries and across 6 continents, our people deliver a next-generation customer experience and help businesses connect better with their customers. We create better business results and help differentiate our customers through technology, design, data, processes and people. Concentrix provides services to customers in our key verticals: technology and consumer electronics; retail, travel and e-commerce; banking, financial services and insurance; health care; communication and media; automobile; and energy and the public sector. Visit www.concentrix.com to learn more.
This press release contains 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. Forward-looking statements include, without limitation, statements regarding expected benefits of the acquisition of PK, including the ability to leverage new capabilities, attract top talent and grow on top of the market, the expected growth of CX design and development markets, AI, intelligent automation and customer retention, and the company’s ability to evolve its digital CX capabilities, and statements that include words such as believe, expect, can, will, deliver, could and should and other similar expressions. These forward-looking statements are inherently uncertain and involve substantial risks and uncertainties which could cause actual results to differ materially from those expressed or implied by such statements. The risks and uncertainties include, among others: the risks associated with the transaction, in particular the fact that the Company will not realize the expected profits from the transaction; the ability to retain key employees and successfully integrate the PK business; distraction of management’s attention; risks related to general economic conditions, including uncertainty related to the COVID-19 pandemic and its impact on the global economy; the level of outsourced business services; the level of business activity of the Company’s customers and the market acceptance and performance of their products and services; consolidation of the Company’s competitors; competitive conditions in the Company’s industry; fluctuations in exchange rates; variability in demand from the Company’s or PK’s customers or the early termination of the
Customer contracts of the company or of PK; competition in the CX solutions industry; political and economic stability in the countries in which the Company operates; the emergence of communicable diseases or other public health crises; cyber attacks on the Company’s networks and computer systems; failure to protect personal and proprietary information; increases in the cost of labor; the operability of the Company’s communications services and information technology systems and networks; changes in law, regulations or regulatory guidelines; legal or investigative proceedings; loss of key personnel; natural disasters, adverse weather conditions, terrorist attacks, work stoppages or other business disruptions; and other factors contained in the company’s annual report on Form 10-K for the fiscal year ended November 30, 2020 filed with the Securities and Exchange Commission and subsequent filings with the SEC. The Company does not undertake to update any forward-looking statements, which are only valid as of the date on which they are made.
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