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Sykes Enterprises to be acquired by Miami firm

June 18, 2021 - Tampa-based Sykes Enterprises Inc. (NASDAQ: SYKE), a provider of customer experience management services with more than 61,000 employees worldwide, agreed to be acquired by Miami-based Sitel Group in an all-cash deal valued at approximately $2.2 billion. With $1.71 billion in gross revenue in 2020, Sykes is one of the Tampa Bay region’s largest publicly traded companies. Privately held Sitel Group, also a large provider of customer experience products and solutions, has agreed to pay $54 per share — 31.2 percent more than Sykes’ closing stock price on Thursday. Sykes President and CEO Chuck Sykes, in a news release, called the deal “a major milestone in our 40-plus year operating history.” He added, “In Sitel Group, I am confident that we have a valuable partner with a solid heritage of deep industry knowledge and experience, solid industry reputation, a shared vision and a people-first culture to better serve customers.” The deal is expected to close in the second half of the year, at which time Sykes Enterprises will become a privately owned company.

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