Move accelerates administration in Robotic Action Automation (RPA)
Cash acquirement amount application of £52 million
Transaction accepted to be dilutive on a GAAP and aloof on a non-GAAP base to 2018 adulterated balance per share
TAMPA, Fla., Oct. 22, 2018 (GLOBE NEWSWIRE) — Sykes Enterprises, Incorporated (“SYKES” or the “Company”) (SYKE), a arch provider of multichannel appeal bearing and all-around chump assurance services, appear today it has entered into a absolute acceding to access Symphony Ventures Limited, or “Symphony”, the arch all-around pure-play and best-of-breed provider of RPA services. Founded in 2014 and headquartered in London, UK, Symphony is a arch provider to dejected dent clients, alms RPA consulting, implementation, hosting and managed services. About 200 bodies strong, Symphony has one of the better absolute all-around teams of Able Automation experts. With a accurate clue almanac of success in automating bags of front, average and back-office processes at covering brands, Symphony serves abundant industries globally, including banking services, healthcare, business services, manufacturing, chump products, communications, media and entertainment. Symphony holds partnerships with arch RPA software vendors, including Automation Anywhere, Dejected Prism, NICE, Thoughtonomy, and UiPath and has developed almost four-fold back budgetary year 2016.
The cardinal account for the Symphony accession is acute as it:
President & Chief Executive Officer Chuck Sykes commented, “The accession of Symphony is accession cogent footfall in architecture our company’s capabilities to accomplish as the agenda anarchy continues to transform our clients’ businesses, their chump account needs, and by extension, the chump abutment industry. Combining the adeptness of RPA with animal adeptness enables us to advice our audience modernize, optimize and accommodate key apparatus of their agenda operations to decidedly advance their business, as able-bodied as advance their customers’ lifecycle adventure experience. The apple of able automation systems is abutting a angled point, and we’re aflame to be able to participate in this new abstruse advance in a allusive way. In that regard, I appetite to congratulate the Symphony aggregation on their adeptness of architecture a arch all-around cast in this new and agitative acreage and acceptable them to the SYKES family.”
Under the acceding of the accession agreement, the Company will pay a banknote acquirement amount of about £52 million, or $69 actor at pound-dollar barter amount of £1-to-$1.32, for 100% buying of Symphony Ventures Limited, which is accepted to be adjourned through a aggregate of banknote on duke and the Company’s acclaim facility. The acquirement amount is about 2.0x 2019 projected revenues. The transaction is accountable to accepted closing altitude and is accepted to abutting on or about November 1, 2018. Symphony, through its avant-garde practices, has developed a well-recognized cast in the industry, which it is accepted to absorb column acquisition. The administration aggregation will abide in abode afterwards the transaction closes and will abide to baby-sit the circadian operations of the business.
Chief Executive Officer of Symphony Ventures Limited, David Poole, stated, “Symphony has rapidly developed over the accomplished four years to become the agenda operations accomplice of best for abundant action audience attractive to apparatus RPA and IA solutions. This advance has been due to the efforts of our awful accomplished and accomplished aggregation that booty a action aboriginal access to agenda transformation to ensure we bear top cleft affection anniversary and every time. Both SYKES and Symphony are avant-garde antecedents committed to convalescent chump and applicant experience. By abutting the SYKES family, Symphony will be able to apprehend the abutting affiliate of our eyes to arrange the world’s assignment and drive amount for our audience and employees.”
Results International Group, LLP served as a sole banking adviser to Symphony Ventures Bound on the transaction. Symphony Ventures Bound was additionally brash by Acresis. Shumaker, Loop & Kendrick, LLP served as SYKES’ acknowledged advisor, while Withers LLP served as Symphony Ventures Limited’s acknowledged advisor. London headquartered Livingbridge, an broker in Symphony Ventures Limited, is a mid-market multi-sector-focused clandestine disinterestedness firm.
Non-GAAP Banking Measures Non-GAAP indicators of achievement are not measures of banking achievement beneath U.S. Generally Accepted Accounting Attempt (“GAAP”) and should not be advised a acting for measures bent in accordance with GAAP. The Company, however, uses non-GAAP measures as a way to abetment readers in added compassionate the Company’s results. The Company believes these non-GAAP banking measures are important indicators of achievement as they are built-in to how administration evaluates and rewards achievement from its basal operations. Connected bill amoebic acquirement growth, which is a non-GAAP measure, for instance, facilitates allegory amid time periods as this presentation allows the Company to abstract the aftereffect of acquisition-related revenues and barter amount differences by bold a connected barter amount amid periods for translation. Similarly, acquittal of abstract assets and abrasion of the footfall up in amount of purchased absolute assets are afar for purposes of artful the non-GAAP banking measures – including but not bound to non-GAAP operating margins, non-GAAP tax rate, non-GAAP net income, non-GAAP net assets per adulterated allotment and non-GAAP assets from operations – because the Company does not access businesses on a anticipated aeon and the exclusion facilitates a added allusive appraisal of accepted operating achievement and allegory to operating achievement in added periods as able-bodied as achievement about to its aeon who are not avaricious or as acquisitive. The Company additionally excludes the appulse or any agnate reversals of absolute restructurings accustomed by the adapted akin of management, accession or accident on auction of facilities, absolution of accumulative adaptation acclimation (CTA), charter obligations and adeptness avenue costs, severance and accompanying costs, non-cash crime charges, alliance and affiliation costs associated with an accession and accession of absorption on accidental application of an accession from non-GAAP Assets (loss) from operations and non-GAAP net assets because the amounts are not cogitating of advancing operating after-effects and do not accord to a allusive appraisal of accepted operating achievement or allegory to operating achievement in added periods. Refer to the exhibits in the absolution for abundant reconciliations.
About Sykes Enterprises, Incorporated
Sykes Enterprises, Incorporated (“SYKES” or “the Company”) is a arch provider of multi-channel appeal bearing and all-around chump assurance services. The Company provides differentiated abounding lifecycle customer-engagement solutions and casework to All-around 2000 companies and their end barter primarily in the technology, banking services, healthcare, communications and busline & leisure industries. SYKES’ differentiated abounding lifecycle administration casework belvedere finer appoint barter at every touchpoint aural the chump journey, including agenda business and acquisition, sales expertise, chump service, abstruse abutment and retention. The Company serves its audience through two geographic operating regions: the Americas (United States, Canada, Latin America, South Asia and Asia Pacific) and EMEA (Europe, the Average East and Africa). Its Americas and EMEA regions primarily accommodate customer-engagement solutions and casework with an accent on entering multichannel appeal generation, customer account and abstruse abutment to its clients’ customers. These casework are delivered through assorted advice channels including phone, email, amusing media, argument messaging, babble and agenda self-service. The Company additionally provides assorted action abutment casework in the United States that accommodate casework for our clients’ centralized abutment operations, from abstruse staffing casework to outsourced accumulated advice board services. In Europe, the Company provides accomplishment services, which includes acclimation processing, acquittal processing, account control, artefact commitment and artefact allotment handling. Its complete account alms helps its audience acquire, absorb and access the lifetime amount of their chump relationships. The Company has developed an all-encompassing all-around adeptness with chump assurance centers beyond six continents, including North America, South America, Europe, Asia, Australia and Africa. It delivers cost-effective solutions that accomplish demand, enhance the chump account experience, advance stronger cast loyalty, and accompany about aerial levels of achievement and profitability. For added advice amuse appointment www.sykes.com.
Forward-Looking StatementsThis columnist absolution may accommodate “forward-looking statements,” including SYKES’ estimates of its approaching business outlook, affairs or banking results. Statements apropos SYKES’ objectives, expectations, intentions, behavior or strategies, or statements absolute words such as “believe,” “estimate,” “project,” “expect,” “intend,” “may,” “anticipate,” “plans,” “seeks,” “implies,” or agnate expressions are advised to analyze such advanced statements. It is important to agenda that SYKES’ absolute after-effects could alter materially from those in such advanced statements, and disproportionate assurance should not be placed on such statements. Among the important factors that could account such absolute after-effects to alter materially are (i) the appulse of bread-and-butter recessions in the U.S. and added genitalia of the world, (ii) fluctuations in all-around business altitude and the all-around economy, (iii) SYKES’ adeptness of advancement margins, (iv) SYKES’ adeptness to abide the advance of its abutment account revenues, (v) bill fluctuations, (vi) the timing of cogent orders for SYKES’ articles and services, (vii) accident or accession of cogent clients, (viii) the aboriginal abortion of affairs by clients, (ix) SYKES’ adeptness to admit deferred acquirement through commitment of articles or satisfactory achievement of services, (x) architecture delays of new or amplification of absolute chump abutment centers, (xi) difficulties or delays in implementing SYKES’ arranged account offerings, (xii) abortion to accomplish sales, business and added objectives, (xiii) variations in the acceding and the elements of casework offered beneath SYKES’ connected arrangement including those for approaching arranged account offerings, (xiv) changes in applicative accounting attempt or interpretations of such principles, (xv) delays in the Company’s adeptness to advance new articles and casework and bazaar accepting of new articles and services, (xvi) accelerated abstruse change, (xvii) political and country-specific risks inherent in administering business abroad, (xviii) SYKES’ adeptness to allure and absorb key administration personnel, (xix) SYKES’ adeptness to added access into angular chip markets, (xx) SYKES’ adeptness to aggrandize its all-around attendance through cardinal alliances and careful acquisitions, (xxi) SYKES’ adeptness to abide to authorize a aggressive advantage through adult abstruse capabilities, (xxii) the ultimate aftereffect of any lawsuits or penalties (regulatory or otherwise), (xxiii) SYKES’ assurance on trends against outsourcing, (xxiv) accident of abeyance of abstruse and chump acquaintance administration centermost operations due to such factors as fire, earthquakes, brutal acclimate and added disasters, adeptness failures, telecommunications failures, crooked intrusions, computer bacilli and added emergencies, (xxv) the actuality of abundant competition, (xxvi) the adeptness to access and advance grants and added incentives, including tax holidays or otherwise, (xxvii) risks accompanying to the affiliation of the businesses of SYKES, Qelp, Clearlink and Symphony, (xxviii) the adeptness to assassinate on initiatives to abode inefficiencies about application and assimilation in the U.S. and rationalize underutilized accommodation absolutely and (xxix) added accident factors listed from time to time in SYKES’ allotment statements and letters as filed with the Securities and Barter Commission. All advanced statements included in this columnist absolution are fabricated as of the date hereof, and SYKES undertakes no obligation to amend any such advanced statements, whether as a aftereffect of new information, approaching events, or otherwise.
For added advice contact:Subhaash KumarSykes Enterprises, Incorporated(813) 233-7143
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