Ayala Corp's Stream Global Acquires LBM Holdings
Ayala Corp's outsourcing unit has completed the acquisition of the top business process outsourcing companies in the United Kingdom. Livelt Investments Ltd, the BPO investment unit has said that its subsidiary Stream Global Services Inc has purchased all the outstanding shares of LBM Holdings Ltd.
The acquisition would provide for better market penetration into the UK as well as adding on US$90 million in revenues.
In a statement, Livelt said, "LBM will enable Stream to better penetrate the UK, the world's second largest English market, as well as strengthen its ability to help customers grow their sales through LBM's revenue generation service offerings."
Stream is BPO firm focused on customer relationship management that employs over 39,000 individuals that speak 35 languages across 56 service centers from 23 countries around the world.
LBM on the other hand is a solutions provider for demand and lead generation services with an employee headcount of 2,500 individuals in six centers in the United Kingdom. The firm generates around GBP60 million per year.