PCC green-lights SYNNEX acquisition of Convergys

By Anna Gabriela A. Mogato
THE Philippine Competition Commission (PCC) has green-lighted American business process outsourcing firm Synnex Corp.’s acquisition of US-based call center company Convergys Corp.
In the decision signed last Sept. 20, PCC claimed that the acquisition would not result in a substantial lessening of competition in the market, citing continued post-transaction restraints from competitors and no added “significant barriers to entry and expansion in the market.”
SYNNEX earlier announced that it was set to acquire Convergys for $2.8 billion. Convergys would then be merged with Concentrix, a SYNNEX subsidiary which also operates call centers.