Gowling WLG advises listed US group Convergys in its acquisition of customer management company buw
Convergys Corporation, a global leader in customer management, today announced a definitive agreement under which Convergys will acquire Germany-based and owner-operated buw for €123 million, subject to certain adjustments and regulatory approvals.
Gowling WLG partner Dr Andreas Woelfle - together with new partner Manuela Finger (IP/IT and Commercial) - advised Convergys on all aspects of the acquisition, supporting the company in expanding its global footprint into the German market. With the acquisition, 6,000 buw employees spread across Germany, Hungary, and Romania will be added to the existing Convergys workforce of 130,000.
By adding buw’s complementary client base, and German language capabilities, Convergys expects the acquisition to expand its presence in the growing €2.8 billion German outsourced customer management services market. buw is a growing and profitable business which generates approximately €150 million annual revenue, providing end-to-end business process outsourcing (BPO) services to leading companies across a wide breadth of industries.
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