SYNNEX acquisition of Convergys approved by competition watchdog

ABS-CBN News

Posted at Oct 08 2018 06:02 PM

MANILA - SYNNEX Corp's acquisition of Convergys Corp has been approved by the Philippine Competition Commission (PCC), the agency said Monday. 

SYNNEX, which operates Concentrix, notified the PCC that it was buying 100 percent of Convergys' outstanding voting shares.

Concentrix and Convergys are two of the biggest outsourcing customer care service providers in the Philippines. 

PCC said that despite the merger review, many other competitors remain in the customer care market. 

It also noted that there were no significant barriers to entry and expansion in the business process outsourcing industry.