LiveIt, Ayala’s BPO investment arm, announced that its investee, Stream Global Services, Inc., recently completed the acquisition of all the outstanding share capital of UK based LBM Holdings Limited, and also posted strong financial results for the quarter and year ending December 31, 2012.
Stream is a leading Customer Relationship Management BPO company with over 39,000 employees supporting 35 languages across 56 service centersin 23 countries. LBM is a premier demand and lead generation solutions provider that employs approximately 2,500 people across six locations in the UK and generates approximately £60 million in annual revenues. LBM will enable Stream to better penetrate the UK, the world’s second largest English language market, as well as strengthen its ability to help customers grow their sales through LBM’s revenue generation service offerings. LBM’s clients are in the telecommunications, financial services, utilities, automotive and retail industries.
“This transaction is about delivering greater value to our clients and long-term growth for our company,” said Stream Chairman and CEO Kathy Marinello. “LBM has proven experience in creating highly precise target lists of people who will be more inclined to buy products and services, which will further enhance our StreamSELLER offering. StreamSELLER focuses on everything involved with the sales process, from recruiting, hiring and training the right people to the consistent use of proven sales behaviors that close more sales with greater predictability. LBM’s people, expertise and capabilities, combined with Stream’s financial strength, global presence, and sales and service offerings, will establish a broader portfolio of high-value service offerings for our clients.”
As previously announced, Stream also achieved revenues of $860 million in 2012, and 14% growth in Adjusted EBITDA to $101 million. In the fourth quarter, revenue was $236 million, up 7% versus the fourth quarter of 2011, and Adjusted EBITDA was $34 million, up 10%, representing the eighth straight quarter of year over year growth in Adjusted EBITDA. Net income for the fourth quarter of 2012 was $4 million.
Stream has also achieved strong momentum in the Philippines where over the last 3 years it has grown its headcount to more than 14,000, and in recent months it has opened 3 new sites in Pasay, Makati and Cebu.Stream pioneered the call center industry in the country when it took the first calls from the US market in mid 2000.
Stream also won the prestigious “IT-BPO Employer of the Year” award during the recent seventh annual International ICT Awards. Stream’s selection was based on its company-wide focus on employee engagement, satisfaction, and career opportunities. The award recognizes Stream for its leadership, strategic approach to HR with a focus on employee retention, and commitment to continuous improvement.
Stream’s company culture, embodied in its global brand promise of “Caring People…Building Businesses. Building Careers” is the foundation for growth and opportunity for those who want to build careers at Stream. By creating a caring environment, Stream has steadily improved employee satisfaction and engagement. This ultimately has led to higher employee retention and skill level, which has enabled Stream employees to deliver exceptional customer experiences on behalf of the clients they serve.
“This award is a testament to the work we have done to create a unique and powerful company culture that really focuses on our most valuable asset – our people,” said Jared Morrison, Stream’s VP and Philippine Country Manager. “We put a lot of energy into making sure our employees are prepared for success. This starts with the way we recruit for exceptional talent all the way through training, development, and ongoing professional growth opportunities that we offer our people. We also create a fun, vibrant work environment so people get more personal satisfaction out of their choice to build a career with Stream.”
Stream is also a past winner of the prestigious “Employer of the Year” award by the People Management Association of the Philippines (PMAP), the country’s leading association of human resource management and development practitioners from various industries.
Fred Ayala, LiveIt’s CEO and Stream’s Vice Chairman, added, “We are very pleased with Stream’s entry into the UK market, its strong financial results globally, its continued growth in the Philippines, and its recognition by the industry as an employer of choice.”
About Stream Global Services
Stream Global Services is a global business process outsourcing (BPO) service provider specializing in customer relationship management services including sales, customer care and technical support for Fortune 1000 companies. Stream is a trusted partner to some of the world’s leading technology, computing, telecommunications, retail, entertainment/media, and financial services companies. Stream’s service programs are delivered through a set of standardized best practices and sophisticated technologies by a highly skilled multilingual workforce of over 39,000 employees capable of supporting over 35 languages across 56 service centers in 23 countries. Stream strives to expand its global presence and service offerings to increase revenue, improve operational efficiencies and drive brand loyalty for its clients. To learn more about the company and its complete service offering, please visit www.stream.com.