BPO buyer cites growth potential of PHL business
BUSINESS-PROCESS outsourcing (BPO) firm Concentrix Corp. expressed bigger growth in its local operations, as its parent acquired The Minacs Group Pte. Ltd. in the midst of expansion in the Philippines.
The business-service company announced the agreement between Minacs and Concentrix parent Synnex Corp. in a recent event to introduce their new sites and plans on Bridgetowne campus in Libis, Quezon City.
“This acquisition is intended to increase our speed to market these solutions and provide us new opportunities for expansion,” Concentrix President Chris Caldwell said. Caldwell added, “The transaction provides [the company] more scale and reach to further serve its client base and as a result, is expected to strengthen its competitive advantages in the marketplace.”
The purchase cost approximately $420 million but is expected to add $400 million of revenue.The expansion of Concentrix will involve hiring of more personnel and building of sites with the construction of Tera Tower in Bridgetowne.
The 22,500-square-meter tower will house the additional 6,000 Concentrix employees, who will occupy the 11 floors of office and production space.
According to Caldwell, “When this facility is completely built out over the next three years, there will be global investments of somewhere between $25 million and $30 million.”
Exxa and Zeta towers are to be added to fill 57,500 sq m of the Bridgetowne campus.
“Over the next three years, while Bridgetowne campus will be a big part of our growth adding 14,000 additional people to our already 20,000 strong [work force],” Caldwell said. “Our expectations [include doubling] the size of our business over the next 36 months and 12 days. That’s a lot more growth.”
According to Caldwell, this growth “will happen not only in Metro Manila but certainly in the provinces, as well in the existing sites that we already have, as well as new sites on the drawing board.”
August 5, 2016