Concentrix and Webhelp Complete Combination, Creating a Diversified Global CX Leader, Well-Positioned for Growth

Chris Caldwell

CEO of Concentrix + Webhelp

NEWARK, Calif., Sept. 25, 2023 (GLOBE NEWSWIRE) — Concentrix Corporation (NASDAQ: CNXC), a leading global provider of customer experience (CX) services and technologies, today announced it has closed its combination with Webhelp and the integration of the two companies is underway. While the combined company finalizes its permanent name, it will operate under the trade name Concentrix + Webhelp.

This combination further positions Concentrix + Webhelp as a global CX leader, with an expanded breadth of generative AI solutions, digital capabilities, and high-value services. It also strengthens its end-to-end CX value proposition, with one of the most robust, well-balanced global footprints in the industry to help the world’s best brands transform customer experiences and achieve their business goals.

“I am excited to embark on this new journey together and believe that, with our combined strengths, we are uniquely positioned to redefine the industry and design, build and run the future of CX for our amazing and valued clients. I want to thank our game-changers around the world who have made this possible. I am truly honored to work with such a diverse and talented team,” said Chris Caldwell, CEO of Concentrix + Webhelp.

The company also welcomes two new members to the Board of Directors, Olivier Duha and Nicolas Gheysens. Olivier is an entrepreneur, philanthropist, co-founder, and former CEO of Webhelp and will serve as Vice Chair of the Board. Nicolas is a Partner at Groupe Bruxelles Lambert (“GBL”), the company’s largest shareholder following the Concentrix + Webhelp combination, and brings with him a wealth of investment and board experience, backing the growth of large and successful businesses across Europe.

“We are fortunate to add such strong skill sets with deep background in the customer experience industry to our Board. With the addition of Olivier and Nicolas, we expand our international expertise in leading large, complex multinational companies on a successful path for growth,” said Kathryn Marinello, Concentrix Chair of the Board.

This combination is a milestone moment, bringing together two recognized market leaders with complementary cultures, footprint, capabilities, and vision for growth across more than 70 countries. At closing, the transaction was valued at approximately $4 billion, including net debt.

About Concentrix + Webhelp
Hi, we’re a leading global provider of customer experience (CX) solutions and technology. We create game-changing customer journeys for some of the world’s best brands, and the ones that are changing the world as we know it. Every day, we Design, Build and Run CX that helps brands grow across the world and into the future. Whether it’s a specific solution or the whole end-to-end journey — we’ve got it covered. We’re the strategic thinkers who design brand-defining experiences. The tech geeks who build smarter solutions. And the operational experts who run it all and make it work seamlessly. Across 70+ countries and six continents, we provide services across key industry verticals including technology & consumer electronics; retail, travel & ecommerce; banking, financial services & insurance; healthcare; communications & media; automotive; and energy & public sector. Concentrix Corporation (NASDAQ: CNXC) operating under the trade name Concentrix + Webhelp. Location: virtually everywhere. Visit concentrix.com to learn more.

Safe Harbor Statement
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include, but are not limited to, statements regarding the integration of the Concentrix and the Webhelp businesses, the strengths and differentiation of the combined businesses, our positioning in the industry, and statements that include words such as believe, expect, may, will, provide, could and should and other similar expressions. These forward-looking statements are inherently uncertain and involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things: risks related to the ability to successfully integrate the Concentrix and Webhelp businesses; our ability to realize estimated cost savings, synergies or other anticipated benefits of the combination, or that such benefits may take longer to realize than expected; diversion of management’s attention; the potential impact of the combination on relationships with clients and other third parties; risks related to general economic conditions, including consumer demand, interest rates, inflation, supply chains and the effects of the conflict in Ukraine; cyberattacks on our or our clients’ networks and information technology systems; the failure of our staff and contractors to adhere to our and our clients’ controls and processes; the inability to protect personal and proprietary information; the inability to execute on our digital CX strategy; the loss of key personnel or the inability to attract and retain staff with the skills and expertise needed for our business; increases in the cost of labor; the effects of the COVID-19 pandemic and other communicable diseases, natural disasters, adverse weather conditions or public health crises; geopolitical, economic and climate- or weather-related risks in regions with a significant concentration of the our operations; the inability to successfully identify, complete and integrate strategic acquisitions or investments; competitive conditions in our industry and consolidation of our competitors; higher than expected tax liabilities; the demand for CX solutions and technology; variability in demand by our clients or the early termination of our client contracts; the level of business activity of our clients and the market acceptance and performance of their products and services; currency exchange rate fluctuations; the operability of our communication services and information technology systems and networks; changes in law, regulations or regulatory guidance; damage to our reputation through the actions or inactions of third parties; investigative or legal actions; and other factors contained in the Company’s Annual Report on Form 10-K for the fiscal year ended November 30, 2022 filed with the Securities and Exchange Commission and subsequent SEC filings. We do not undertake a duty to update forward-looking statements, which speak only as of the date on which they are made.

Copyright 2023 Concentrix Corporation
All rights reserved. Concentrix, Webhelp, Concentrix + Webhelp, the Concentrix and Webhelp logos, and all other Concentrix company, product and services names and slogans are trademarks or registered trademarks of Concentrix Corporation and its subsidiaries. Concentrix and the Concentrix logo Reg. U.S. Pat. & Tm. Off. and applicable non-U.S. jurisdictions. Other names and marks are the property of their respective owners.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5f66a659-481a-4e4e-809d-72dcadc4c2b2

Investor Contact:
David Stein
Investor Relations
Concentrix Corporation
+1-513-703-9306
david.stein@concentrix.com

Media Contact:
Debbie Gonzalez
Marketing & Communications
Concentrix Corporation
media@concentrix.com

GlobeNewswire Distribution ID 8927595

Angolan Head of State congratulates Guinea Bissau on independence anniversary

President João Lourenço has congratulated the people and the president of Guinea Bissau on occasion of that west African country’s 50th independence anniversary, marked on Sunday (24).

On a message, which ANGOP has had access to, João Lourenço wrote “I have the honour, on behalf of the Angolan Executive and on my own behalf, to congratulate the Guinean people, government and Your Excellency on the day that marks the 50th independence anniversary of the Republic of Guinea Bissau”.

He reiterated the Angolan government’s willingness to work with the Guinean authorities, so that together they can explore all the paths that can lead to the strengthening of the bilateral co-operation, for the benefit of the two peoples.

“Please do accept, Excellency, the expression of my wishes for personal well-being and prosperity for the Guinean people”, stressed the Angolan Head of State.

On 24 September 1973 the then commander and chairman of Guinea Bissau’s People’s National Assembly, João Bernardo Vieira, proclaimed this West African country’s National Independence, in Madina de Boé.

On the occasion, Guinea Bissau – just like other Portuguese-speaking African countries – was engaged in armed struggle against the colonial power, Portugal, through the PAIGCV (African Party for the Independence of Guinea and Cabo Verde).

Source: Angola Press News Agency

Over 30 diamond stones seized

At least 37 diamond stones of various carats have been seized by the Criminal Investigation Service in eastern Lunda Norte province,the local National Police spokesperson Domingos Muanafumo said Monday.

The Police spokesperson stressed that the diamonds were seized during a micro-operation aimed at combating illicit diamond trafficking and fuel smuggling.

The officer said that the operation took place in areas where there are several illegal diamond mining exploitation and along the border with the Democratic Republic of Congo (DRC).

Without revealing the number of citizens involved in the crime and detained, The Police spokesperson said that during the operation at least 1,575 liters of smuggled fuel were seized.

The spokesperson added that during the operation, 699 citizens from the DRC were arrested for attempting to enter national territory illegally at the border posts in several municipalities

Source: Angola Press News Agency

China ready for more agricultural imports from EU, Beijing says

China has agreed to import more agricultural products from the European Union, Vice Premier He Lifeng said on Monday after a meeting with EU Trade Commissioner Valdis Dombrovskis in Beijing.

In return, Beijing hopes that Brussels will allow exports of high-tech products to China again, He said. Both sides agreed to discuss market access for high-quality food and agricultural products from Europe, according to the Chinese vice premier.

China and the EU also agreed on further cooperation in the financial sector, for example, allowing financial institutions to invest in the markets of the partner countries, He said. Consensus had also been reached on other issues, he added.

Dombrovskis’ visit to China came less than two weeks after the European Commission announced its intention to investigate China’s e-car subsidies. Brussels believes that China is distorting the market by subsidizing Chinese e-car companies, allowing them to offer their cars at a cheaper price.

He appealed to the EU to exercise caution and keep its markets open. European customers and the development in Europe towards less emissions would benefit from this, he said.

Source: Ghana News Agency

Anidaso Mutual Fund records impressive performance in fund investment income

The Anidaso Mutual Fund (AMF), recorded impressive increase in its investment income from GHS 390,364 in 2021 to GHS 533,077 in 2022.

This represents 36.65 per cent increase.

The Net Asset Value (NAV) of the fund also stood at GHS 3,168,444 at the end of year 2022, representing 2.38 percent increase of the GHS 3, 084,935 recorded in 2021.

This translated into a NAV per share increase from GHS 0.9609 to GHS1, 0336, representing an Annual Yield of 7.57 per cent.

The fund’s impressive performance in 2022 in expected to continue in 2023 but in moderation as the mixed performance of the equity market may affect the rate of growth of the fund in 2023.

Most. Reverend Dr. Daniel Yinka Sarfo, Chairman of the Board of Directors of the AMF, made these statements at the 2022, Annual General Meeting (AGM) of the AMF in Kumasi.

He said the year 2022 recorded a strong recovery from COVID -19 pandemic and its related economic challenges.

This, he said was evidenced in Ghana Statistical Service (GSS) update on the economy, which revealed an average real GDP growth for 2022 to be 3.3 per cent, compared to 5.4 percent recorded in 2021.

He revealed an updated composite index activity contracted by 6.2 per cent in November 2022 compared to a growth of 10.2 percent in the same period of 2021.

Most Rev. Yinka Sarfo said the latest confidence survey conducted by the Bank of Ghana in December 2022 pointed out some marginal improvements in sentiments.

He said the acceleration in inflation was driven mainly by the lagged effect of the sharp currency depreciation recorded in October 2022.

He said the economic recovery in 2022, heavily impacted on the AMFs investment performance and therefore, shareholders were assured of earning positive returns in investment by the end of the year on a regular basis to enjoy the long-term benefit of the fund.

Mr. Edward Kwaku Asamoah, AMF Manager, said the significant growth in investment income was due to better management of the fund.

He said the economy had shown signs of stability since the country received the first tranche of the USD three billion IMF extended credit facility.

This good trend was anticipated to continue to the close of the year.

He said that the country would benefit from macro-economic objectives for 2023, such as restoring fiscal and debt sustainability and enacting structural reforms.

This would help achieve anticipated 2.8 percent real Gross Domestic Product growth and the desired 18.9 percent inflation rate by the close of the year.

The appeal of government bonds as a sound-fixed investment had decreased because of recent economic changes and the Domestic Debt Exchange Programe.

Mr. Asamoah pointed out that to navigate the uncertain economic times, deliver good returns, and pay investors dividends, interest would be diverted to the Ghana Stock Exchange with investors seeking stocks of companies with strong fundamentals and prizing power.

He said AMF was steadfast in its commitments to giving its investors excellent value as West Africa navigated its economic problems and seize the opportunities presented by its distinctive economic environment.

He called on shareholders to stick to the fund for greater successes.

Source: Ghana News Agency

Abosso Goldfields Limited builds capacity of host farmers

Abosso Goldfields Limited (Damang Mine), has organized a capacity building workshop for over 400 farmers in its host communities at Kyekyewere in the Prestea Huni-Valley Municipality.

The day’s workshop was aimed at enhancing the knowledge of the farmers on land take and compensation principles.

The Environmental Department of the Mine also educated the farmers extensively on climate change to meet the goal of limiting global warming.

Addressing the participants, Mr Eric Doe Ackuayi, Acting Community Affairs Manager, said although they had over 5,000 farmers in their operational area, they decided to engage few so those present would impact the knowledge they would acquire on others.

He explained that issues such as rise in temperature, changes in rainfall patterns and water scarcity were contributing to break down of the traditional agricultural system.

For Damang Mine, effective engagement with farmers who were one of their key stakeholders in its host communities was needed to build resilience against climate change, said Mr Ackuayi.

He entreated the farmers to take what they would be thought at the workshop to improve their crop yield and encourage more people to venture into agriculture.

Madam Eunice Whajah Donkor, a representative from Minerals Commission, said mining companies that resettle a community from their concessions for a project to take off, they were not obliged to give them allowance.

She said presently there was no law compelling any mining company to pay allowance to members of any resettled community, adding, ‘it’s optional.’

Nana Thomas Boakye, the District Chief Farmer of Huni-Valley, thanked Abosso Goldfields Limited for creating an enabling environment to get more people, especially the youth, attracted to agriculture as a source of livelihood.

He advised farmers to take advantage of the numerous programmes introduced by the Mine to improve their standard of living and do more in the coming years.

Source: Ghana News Agency

Let’s navigate the complex landscape of data protection and cybersecurity

Data protection in the 21st Century has evolved to become a global concern of increasing complexity, driven by the exponential growth in valuable information that must be safeguarded from corruption or compromise.

This complexity is worsened by the global exchange and processing of data, which transcend institutional, national, and government jurisdictional boundaries.

A statement issued in Accra by Huawei said for some context, internet searches could originate from one country and be processed by servers located in different countries.

Consequently, data security has become an essential strategy for every organization, handling any form of data as countries are also now keen on data protection regulations.

It said, however, legal, and regulatory frameworks were rooted in territorial boundaries and jurisdictional limitations posing a major problem for multinational businesses involved in the processing and transfer of data.

The statement said Europe had tried to bridge this gap by adopting a more consolidated approach through the EU Data Protection Directive. But the implementation of this directive varies significantly among its 27 Member States.

For instance, nearly every State has enacted its own data security breach notification laws with obligations related to the content of breach notifications, as well as whether the company must notify regulators, state attorneys general or credit bureaus vary significantly.

It said different countries and regions have distinct obligations and enforcement mechanisms under their respective data protection laws.

‘Inconsistencies in enforcement and interpretation can even exist within a single country. Companies are sometimes confronted by additional challenges of relying on standards and codes not enshrined into law as some jurisdictions may lack formal laws,’ it added.

It said businesses, including equipment manufacturers like Huawei and its corporate customers, grapple with a fragmented landscape of laws and regulations that does not only vary geographically but also by subject matter.

The statement said this regulatory environment imposes obligations related to surveillance and interception, which directly affect industry standards.

It said as laws evolve, hardware and software must be modified to reflect the new legal requirements. Companies face additional challenges given that laws are by no means static.

Therefore, ICT equipment manufacturers like Huawei must continuously adapt their hardware and software to meet evolving legal requirements.

It said Huawei recognized the need for a coordinated international approach to data protection and cybersecurity principles.

Such an approach would enhance global data protection standards, eliminating the challenges faced by vendors, service providers, and corporations in applying inconsistent standards across different countries.

It said the company was firmly committed to compliance with all applicable laws and regulations in every jurisdiction it operates in and will take necessary actions to adhere to international sanctions and local laws when required.

Source: Ghana News Agency

Polish foreign minister accuses Germany’s Scholz of meddling

Polish Foreign Minister Zbigniew Rau has accused German Chancellor Olaf Scholz of meddling in his country’s election campaign following a row over a visa affair.

The European Commission has said it is dissatisfied with Poland’s response after allegations that work visas have been issued en masse to citizens of African and Asian countries, with some applicants paying large sums of money for the visas through intermediaries.

Given a work visa to Poland would allow people to travel across the European Union, Scholz said over the weekend: ‘I don’t want people to be waved through from Poland and then have a discussion about our asylum policy afterwards.

It must be the case ‘that whoever arrives in Poland is registered there and undergoes an asylum procedure there,’ he added.

But Rau, from the right-wing ruling Law and Justice (PiS) party which is under intense pressure ahead of parliamentary elections on October 15, was not impressed.

‘The latest statement by German Chancellor Olaf Scholz violates the principles of the sovereign equality of states, which is the foundation of good neighbourly relations and friendly cooperation with Poland,’ he wrote on X, formerly known as Twitter, late on Sunday.

‘Statements in this regard indicate an attempt to interfere in the internal affairs of the Polish State and the ongoing electoral campaign in Poland. In the name of good bilateral relations, I appeal to the German Chancellor to respect Poland’s sovereignty and refrain from statements that damage our mutual relations.’

German government spokesman Steffen Hebestreit said at a press conference in Berlin on Monday that it was quite normal for the chancellor to speak out in such a situation in which Germany is massively affected.

‘I cannot see any interference in any election campaign,’ he added.

Source: Ghana News Agency