Irvine, Calif (March 4, 2015)
Alorica, a worldwide leading provider of customer management outsourcing solutions, today announced that it has completed its acquisition of several of West Corporation’s (NASDAQ: WSTC) agent services businesses for approximately $275 million. The resulting $1.2 billion dollar Alorica is now one of the largest Business Process Outsourcing (BPO) providers in the US.
The acquisition is part of Alorica’s strategy to become the number one BPO provider in the company’s addressable markets. Acquiring West’s agent services businesses broadens Alorica’s product offerings and market reach, enhances the company’s delivery capabilities and allows Alorica to continue its sustained, aggressive growth on a global scale.
With the acquisition, Alorica now offers its clients:
- Increased global footprint with further presence in the US, Latin America and the Philippines. Alorica now has 73 locations, including the addition of sites in Mexico and Jamaica. Alorica’s employee base has more than doubled to approximately 48,000 employees worldwide.
- Work at home agents, consisting of approximately 5,000 employees, allow Alorica clients to expand the need for just-in-time staffing for rapid deployments, unpredictable volumes, seasonal ramps, or other flexible resourcing.
- Healthcare Solutions, providing a full suite of back office, support, and sales functions including pharmacy and licensed insurance capabilities.
- Center of Analytical Excellence focused on data mining and predictive modeling, operations research, and advanced analytics using statistical algorithms to predict outcomes. The team has deployed over 400 predictive models, eight thesis publications and three patents.
- Receivables Management serves as a fully licensed collection agency with a wide spectrum of collection and recovery services across the Telecommunications, Financial Services, Government, Student Loan, Healthcare and Utilities industries.
- Direct Response leverages thousands of at-home and in-center agents providing customer care and sales solutions,to support media driven events for many of the nation’s most successful brands.
“Today is an exciting day for Alorica. Our acquisition of West’s agent services businesses underscores our commitment to strategic and rapid company growth to better support our clients’ needs,” said Andy Lee, CEO, Alorica.”The expansion of our geographical presence, market reach and service offerings allows Alorica to deliver immediate value to our clients and their customers.”
West’s agent services businesses provide large-scale customer contact solutions to a wide range of vertical markets. Bank of America Merrill Lynch, Wells Fargo Bank and Bank of the West provided committed financing to complete the transaction. Wells Fargo Securities acted as exclusive financial advisor to Alorica. McGuire Woods LLP acted as legal counsel to Alorica.