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SYNNEX Corporation Completes Initial Close Of IBM CRM Acquisition

SYNNEX Corporation (NYSE: SNX), a leading business process services company, today announced the completion of the initial close of the acquisition of IBM’s customer relationship management (CRM) business on January 31, 2014. IBM’s CRM business will be combined with Concentrix, a wholly-owned subsidiary of SYNNEX, to become one of the world’s foremost customer engagement services companies in the $55 billion+ CRM BPO market.

The Company also announced that Christopher Caldwell has been promoted to Executive Vice-President and President of Concentrix Corporation, and will lead the combined organization.

“This transformational acquisition makes Concentrix a global Top 10 player in a growing market,” stated Kevin Murai, President and CEO of SYNNEX Corporation. “Our collective strengths in the CRM BPO market including a strong team of executives and recurring revenues from IBM’s blue-chip client base have created a truly compelling value proposition for our shareholders.”

Concentrix is now a global leader in customer engagement, technology and process innovation, due to the combined scale, tools and industry expertise of IBM and the agility, flexibility, velocity and client focus of Concentrix. Through this acquisition, as well as the ongoing, long-term strategic partnership with IBM as preferred provider for CRM solutions for their clients, Concentrix will provide organizations with the innovative solutions and customer engagement capabilities to differentiate their brand and services from those of their competitors.

“Enabling our clients’ customer strategy and supporting transactions with operational excellence has always been the foundation of our success. This acquisition continues to extend our portfolio, delivery capabilities and geographic reach to help organizations around the world deliver innovative, high-value interactions at every stage of the customer engagement lifecycle” said Chris Caldwell, President, Concentrix Corporation. “Upon final closing, Concentrix will provide customer engagement and industry process services for clients in 10 industry verticals with an expanded global footprint of more than 43,000 staff in over 36 countries.”

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