This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Sykes Enterprises, Incorporated Completes Alpine Access Acquisition

TAMPA, Fla., Aug. 21, 2012 (GLOBE NEWSWIRE) -- Sykes Enterprises, Incorporated ("SYKES" or the "Company") (Nasdaq:SYKE), a global leader in providing outsourced customer contact management solutions and services in the business process outsourcing (BPO) arena, announced today that it has completed the acquisition of Alpine Access, Inc.

"Since the announcement of the Alpine Access acquisition, we have received overwhelmingly positive feedback from our key clients and employees. On the heels of this important milestone, we are eager to put our strategic vision into action. By leveraging Alpine Access' best-in-class market position and differentiated capabilities across the customer contact management marketplace, we are embarking on a strategic trajectory that we believe will help our clients and employees realize the potential power of this combination as it unlocks long-term value for our shareholders," said Chuck Sykes, President and Chief Executive Officer of Sykes Enterprises, Inc.

Alpine Access' President and Chief Executive Officer Christopher Carrington stated, "Our momentum in the marketplace has only strengthened since the announcement of what we believe is a winning combination. We are excited to officially be part of the SYKES family. And we are eager to move forward as one in continuing to deliver the exceptional value our clients have come to expect, thereby capitalizing on the growth opportunities in the marketplace."

The $150 million cash purchase price, subject to post-closing adjustments, for Alpine Access was financed through $108 million in borrowings under the Company's credit facility, with the remaining from cash on hand. The borrowing will bear interest at a variable rate of LIBOR plus an applicable margin based on the Company's leverage ratio (currently 112.5 basis points). The interest rate will be determined quarterly based on Sykes' leverage ratio at such time. The Company plans to provide an update on the anticipated impact of the Alpine Access acquisition on the business outlook for the fourth quarter of and full-year 2012 when it reports its third quarter results for the three-months ended September 30, 2012.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,979.13 +59.54 0.35%
S&P 500 1,986.51 +4.91 0.25%
NASDAQ 4,526.4820 -1.0320 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs