Sykes Enterprises, Incorporated (“SYKES” or the “Company”) (NASDAQ:
SYKE), a leading full life cycle provider of global customer
engagement services, multichannel demand generation and digital
transformation, today announced through its digital marketing
subsidiary Clearlink the closing of the acquisition of Taylor Media
Corporation, owner of The Penny Hoarder (“TPH”), a leading
independent personal finance digital media company whose mission is
delivering financial empowerment. As the Company indicated in a
prior release announcing the transaction, this acquisition extends
Clearlink’s existing leadership in home-services and insurance into
the broader financial services industry, while also adding
additional expertise in paid media marketing. Furthermore, through
this acquisition, Clearlink will be gaining access to a portfolio
of client logos, primarily market disruptors, within credit,
investing, banking and insurance. The Company expects the
acquisition to be accretive to 2021 diluted earnings per share and
plans to quantify the accretion levels when it releases its fourth
quarter 2020 financial results in February 2021.
About Sykes Enterprises,
Incorporated
Sykes Enterprises, Incorporated (“SYKES” or “the
Company”) is a leading provider of multi-channel demand generation
and global customer engagement services. The Company provides
differentiated full lifecycle customer engagement solutions and
services primarily to Global 2000 companies and their end customers
principally in the financial services, communications, technology,
transportation & leisure and healthcare industries. SYKES’
differentiated full lifecycle management services platform
effectively engages customers at every touchpoint within the
customer journey, including digital marketing and acquisition,
sales expertise, customer service, technical support and retention,
many of which can be optimized by a suite of robotic process
automation (“RPA”) and artificial intelligence (“AI”) solutions.
The Company serves its clients through two geographic operating
regions: the Americas (United States, Canada, Latin America, South
Asia and Asia Pacific) and EMEA (Europe, the Middle East and
Africa). Its Americas and EMEA regions primarily provide
customer-engagement 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,
email, 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 provides
fulfillment services, which includes order processing, payment
processing, inventory control, product delivery and product returns
handling. Additionally, through the 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 solutions such as consulting, implementation,
hosting and managed services that optimizes its differentiated full
lifecycle management services platform. SYKES’ 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 engagement
centers across six continents, including North America, South
America, Europe, Asia, Australia and Africa. It 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.
Forward-Looking Statements
This press release may contain “forward-looking
statements,” including SYKES’ estimates of its future business
outlook, prospects or financial results. Statements regarding
SYKES’ objectives, expectations, intentions, beliefs or strategies,
or statements containing words such as “believe,” “estimate,”
“project,” “expect,” “intend,” “may,” “anticipate,” “plans,”
“seeks,” “implies,” or similar expressions are intended to identify
such forward-looking statements. It is important to note that
SYKES’ actual results could differ materially from those in such
forward-looking statements, and undue reliance should not be placed
on such statements. Statements about the effects of the COVID-19
pandemic on our business, operations, financial performance and
prospects may constitute forward-looking statements and are subject
to the risk that the actual impacts may differ, possibly
materially, from what is reflected in those forward-looking
statements due to factors and future developments that are
uncertain, unpredictable and in many cases beyond our control,
including the scope and duration of the pandemic, actions taken by
governmental authorities in response to the pandemic, and the
direct and indirect impact of the pandemic on our clients, third
parties and us. Among the important factors that could cause such
actual results to differ materially are (i) the impact of economic
recessions in the U.S. and other parts of the world, (ii)
fluctuations in global business conditions and the global economy,
(iii) SYKES’ ability of maintaining margins, (iv) SYKES’ ability to
continue the growth of its support service revenues through
additional technical and customer engagement centers, (v) currency
fluctuations, (vi) the timing of significant orders for SYKES’
products and services, (vii) loss or addition of significant
clients, (viii) the early termination of contracts by clients, (ix)
SYKES’ ability to recognize deferred revenue through delivery of
products or satisfactory performance of services, (x) construction
delays of new or expansion of existing customer engagement centers,
(xi) difficulties or delays in implementing SYKES’ bundled service
offerings, (xii) failure to achieve sales, marketing and other
objectives, (xiii) variations in the terms and the elements of
services offered under SYKES’ standardized contract including those
for future bundled service offerings, (xiv) changes in applicable
accounting principles or interpretations of such principles, (xv)
delays in SYKES’ ability to develop new products and services and
market acceptance of new products and services, (xvi) rapid
technological change, (xvii) political and country-specific risks
inherent in conducting business abroad, (xviii) SYKES’ ability to
attract and retain key management personnel, (xix) SYKES’ ability
to further penetrate into vertically integrated markets, (xx)
SYKES’ ability to expand its global presence through strategic
alliances and selective acquisitions, (xxi) SYKES’ ability to
continue to establish a competitive advantage through sophisticated
technological capabilities, (xxii) the ultimate outcome of any
lawsuits or penalties (regulatory or otherwise), (xxiii) SYKES’
dependence on trends toward outsourcing, (xxiv) risk of
interruption of technical and customer engagement center operations
due to such factors as fire, earthquakes, inclement weather and
other disasters, power failures, telecommunications failures,
unauthorized intrusions, computer viruses and other emergencies,
(xxv) the existence of substantial competition, (xxvi) the ability
to obtain and maintain grants and other incentives, including tax
holidays or otherwise, (xxvii) risks related to the integration of
the businesses of SYKES, including the Qelp, Clearlink, WhistleOut,
Symphony and Taylor Media Corporation acquisitions and the
impairment of any related goodwill, (xxviii) the ability to execute
on initiatives to address inefficiencies around recruitment and
retention in the U.S. and rationalize underutilized capacity
methodically and (xxix) other risk factors listed from time to time
in SYKES’ registration statements and reports as filed with the
Securities and Exchange Commission. All forward-looking statements
included in this press release are made as of the date hereof, and
SYKES undertakes no obligation to update any such forward-looking
statements, whether as a result of new information, future events,
or otherwise.
For additional information
contact:Subhaash KumarSykes Enterprises, Incorporated(813)
233-7143
Sykes Enterprises (NASDAQ:SYKE)
Historical Stock Chart
From Aug 2024 to Sep 2024
Sykes Enterprises (NASDAQ:SYKE)
Historical Stock Chart
From Sep 2023 to Sep 2024