Sykes Enterprises, Incorporated ("SYKES" or the “Company”) (NASDAQ:
SYKE), a leading full life cycle provider of global customer
experience management services, multichannel demand generation and
digital transformation, announced that the required waiting period
under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR
Act) regarding the all-cash acquisition by Sitel Group® expired at
11:59 PM ET on August 9, 2021. The proposed transaction has
received antitrust clearance in other key foreign jurisdictions.
The transaction, which is expected to be completed in the second
half of 2021, remains subject to certain closing conditions,
including the approval of SYKES’ shareholders at its Special
Meeting, which is scheduled for August 24, 2021 at 8 AM ET at the
Rivergate Tower, 400 N. Ashley Drive, Suite 320, 3rd Floor,
Conference Room A, Tampa, FL 33602. Upon the closing of the
transaction, which was approved unanimously by the Company’s Board
of Directors, SYKES will become a privately-held company and its
shares will cease trading on Nasdaq.
About Sykes Enterprises,
IncorporatedSykes Enterprises, Incorporated and
consolidated subsidiaries (“SYKES” or the “Company”) is a leading
full lifecycle provider of global customer experience management
services, multichannel demand generation and digital
transformation. SYKES provides differentiated full lifecycle
customer experience management solutions and services primarily to
Global 2000 companies and their end customers principally in the
financial services, technology, communications, transportation
& leisure and healthcare industries. The Company’s
differentiated full lifecycle services platform effectively engages
customers at every touchpoint within the customer journey,
including digital media and acquisition, sales expertise, customer
service, technical support and retention, many of which can be
optimized through a suite of digital transformation capabilities
under its SYKES Digital Services (“SDS”) group, which spans robotic
process automation (“RPA”), self-service, insight analytics and
digital learning. In addition to digital transformation, SYKES also
provides artificial intelligence (“AI”) solutions that can be
embedded and leveraged across its lifecycle offerings. The Company
serves its clients through two geographic operating regions: the
Americas (United States, Canada, Latin America, Australia and the
Asia Pacific Rim) and EMEA (Europe, the Middle East and Africa).
The Company’s Americas and EMEA regions primarily provide customer
management solutions and services with an emphasis on inbound
multichannel demand generation, customer service and technical
support to its clients’ customers. These services are delivered
through multiple communication channels including phone, e-mail,
social media, text messaging, chat and digital self-service. The
Company also provides various enterprise support services in the
United States that include services for its clients’ internal
support operations, from technical staffing services to outsourced
corporate help desk services. In Europe, the Company also provide
fulfillment services, which include order processing, payment
processing, inventory control, product delivery and product returns
handling. Additionally, through the Company’s acquisition of RPA
provider Symphony Ventures Ltd (“Symphony”) coupled with its
investment in AI through XSell Technologies, Inc. (“XSell”), the
Company also provides a suite of digital transformation
capabilities that optimizes its differentiated full lifecycle
management services platform. The Company’s complete service
offering helps its clients acquire, retain and increase the
lifetime value of their customer relationships. The Company has
developed an extensive global reach with customer experience
management centers across six continents, including North America,
South America, Europe, Asia, Australia and Africa. The Company
delivers cost-effective solutions that generate demand, enhance the
customer service experience, promote stronger brand loyalty, and
bring about high levels of performance and profitability. For
additional information please visit www.sykes.com.
About Sitel Group®As a leading
global provider of customer experience (CX) products and solutions,
Sitel Group® empowers brands to build stronger relationships with
their customers by creating meaningful connections that boost brand
value. Inspired by each brands’ unique vision and goals, we ask
“what if?” applying our expertise to create innovative solutions
that reduce customer effort. With 100,000 people around the globe –
working from home or from one of our CX hubs – we securely connect
best-loved brands with their customers over 4.5 million times every
day in 50+ languages. Whether digital or voice-based, our solutions
deliver a competitive edge across all customer touchpoints. Our
award-winning culture is built on 35+ years of industry-leading
experience and commitment to improving the employee experience.
EXP+™ from Sitel Group is a flexible solution with complete cloud
capability, designed to simplify the delivery of end-to-end CX
services, while boosting efficiency, effectiveness and customer
satisfaction. EXP+ creates a robust ecosystem by harnessing the
power of four connected product families: Empower, Engage, Explore
and Evolve. Learn more at www.sitel.com and connect with us on
Facebook, LinkedIn and Twitter.
Additional Information Regarding the Merger and Where to
Find ItThis communication does not constitute an offer to
sell or the solicitation of an offer to buy the securities of Sykes
Enterprises, Incorporated (the “Company”) or the solicitation of
any vote or approval. This communication relates to the proposed
merger involving the Company and a wholly-owned subsidiary of Sitel
Group (the “proposed merger”). The proposed merger will be
submitted to the shareholders of the Company for their
consideration at a special meeting of the shareholders. In
connection therewith, the Company intends to file relevant
materials with the Securities and Exchange Commission ("SEC"),
including a definitive proxy statement on Schedule 14A (the
“definitive proxy statement”), which will be mailed or otherwise
disseminated to the Company’s shareholders when it becomes
available. The Company may also file other relevant documents with
the SEC regarding the proposed merger. SHAREHOLDERS ARE URGED TO
READ THE DEFINITIVE PROXY STATEMENT AND ANY OTHER RELEVANT
DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AND IN THEIR
ENTIRETY WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. Shareholders may
obtain free copies of the definitive proxy statement, any
amendments or supplements thereto and other documents containing
important information about the Company, once such documents are
filed with the SEC, through the website maintained by the SEC at
www.sec.gov. Free copies of the definitive proxy statement and any
other documents filed with the SEC can also be obtained on the
Company’s website at
https://investor.sykes.com/company/investors/investor-relations-home/default.aspx
or by contacting the Company’s Investor Relations Department
at subhaash.kumar@sykes.com.
Certain Information Regarding Participants in the
SolicitationThe Company and certain of its directors and
executive officers may be deemed to be participants in the
solicitation of proxies in connection with the proposed merger.
Information regarding the Company’s directors and executive
officers is contained in the Company’s Annual Report on Form 10-K
for the fiscal year ended December 31, 2020, filed with the SEC on
February 26, 2021, and its definitive proxy statement on Schedule
14A for the 2021 annual meeting of shareholders, filed with the SEC
on April 16, 2021, as modified or supplemented by any Form 3 or
Form 4 filed with the SEC since the date of such definitive proxy
statement. Additional information regarding the participants in the
proxy solicitation and a description of their direct or indirect
interests, by security holdings or otherwise, will be included in
the definitive proxy statement and other relevant documents filed
with the SEC regarding the proposed merger, if and when they become
available. Free copies of these materials may be obtained as
described in the preceding paragraph.
Forward-Looking StatementsCertain information
contained in this Communication constitutes “forward-looking
statements.” within the meaning of Section 27A of the Securities
Act of 1933, as amended and Section 21E of the Securities Exchange
Act of 1934, as amended, including, but not limited to, statements
regarding possible or assumed future results of operations of
SYKES, the expected completion and timing of the proposed merger
and other information relating to the proposed merger. Without
limiting the foregoing, the words “believes,” “anticipates,”
“plans,” “expects,” “intends,” “forecasts,” “should,” “estimates,”
“contemplate,” “future,” “goal,” “potential,” “predict,” “project,”
“projection,” “may,” “will,” “could,” “should,” “would,” “assuming”
and other words or expressions of similar meaning or import are
intended to identify forward-looking statements. Such
forward-looking statement are inherently uncertain, and
shareholders and other potential investors must recognize that
actual results may differ materially from SYKES’ expectations as a
result of a variety of factors. Forward-looking statements are
based upon management’s current expectations and include known and
unknown risks, uncertainties and other factors, many of which SYKES
is unable to predict or control and which may cause SYKES’ actual
results, performance, or plans to differ materially from any future
results, performance or plans expressed or implied by such
forward-looking statements in relation to the proposed merger.
SYKES disclaims any obligation to update any such factors or to
announce publicly the results of any revisions to any of the
forward-looking statements to reflect future events or
developments. Risks and uncertainties that could cause actual
results to differ materially from those indicated in such
forward-looking statements and as it relates to the proposed merger
include, but are not limited to:
- the occurrence of any event, change or other circumstance that
could give rise to the termination of the merger agreement,
including those circumstances in which the Company would be
required to pay a termination fee;
- the failure of the parties to satisfy conditions precedent to
the completion of the proposed merger, including the failure to
obtain the requires approvals of SYKES’ shareholders for the
proposed merger or the transaction parties’ failure to obtain
necessary regulatory approvals;
- the later existence of any unanticipated difficulties or
expenses related to the proposed merger, including the disruption
of any existing plans or any impact on employee retention following
the announcement of the proposed merger;
- the risk that regulatory or other approvals are delayed or are
subject to terms and conditions not otherwise anticipated, or that
the proposed merger may not be otherwise completed in a timely
manner or at all;
- the impact of any response to the announcement and pendency of
the merger by customers, business partners, service providers or
other government regulators;
- the commencement and/or impact of any legal proceedings or the
entry of any judgments or settlements, including any lawsuits that
may be filed against the Company, its board of directors, executive
officers or other individuals following the announcement of the
proposed merger; and
- and the risks, uncertainties, and other factors detailed from
time to time in SYKES’ Annual Report on Form 10-K, Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K, as filed or
furnished with the Securities and Exchange Commission.
SYKES assumes no obligation to update any forward-looking
statement contained in this communication.
SYKES investor contact:Subhaash
KumarSykes Enterprises, Inc.(813)
233-7143subhaash.kumar@sykes.com
SYKES media contact:Jesse
HimsworthSykes Enterprises, Inc.(801)
874-9390Jesse.Himsworth@sykes.com
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