Creates Leading Customer and Product Support Company
NEW YORK - Wednesday, April 2nd 2014 [ME NewsWire]
(BUSINESS WIRE) iQor, a global provider of business process outsourcing services, today announced it has completed the acquisition of the Aftermarket Services business of Jabil Circuit, Inc. (NYSE: JBL). The acquisition positions iQor as the first global company with the integrated capabilities to address the $40 billion market at the intersection of customer relationship management and product support solutions.
“We are excited to welcome the more than 13,000 Aftermarket Services employees to iQor,” said Hartmut Liebel, CEO of iQor, who previously served as CEO of Jabil Aftermarket Services for more than 10 years. “The transaction combines iQor’s leading customer support capabilities with Jabil Aftermarket Services’ experience as the premier product support organization to create a unique service offering that addresses needs across the customer value chain. Our broader global footprint and wider range of solutions will create a powerful value proposition for many of our clients."
Jabil Aftermarket Services will operate as a separate business unit of iQor and will be called iQor Aftermarket Services. iQor’s Customer Care and Receivables Management divisions, comprised of more than 19,000 employees, will continue to provide services to clients across a wide range of industries and verticals.
The combined company will have approximately $1.5 billion in revenue, more than 32,000 employees, and operations in 17 countries around the world supporting clients in over 60 countries. As part of a multiyear partnership agreement, iQor Aftermarket Services will become the exclusive aftermarket service provider for Jabil Circuit, Inc., which will retain a financial stake in the combined company.
The proliferation of technology devices around the world, including smartphones, tablets, laptops, DVRs, HDTVs, video game consoles, Internet-connected appliances, and smart meters is creating growing demand for customer care, technical support, repair services, and network maintenance. Over time, the business combination will help provide an integrated solution to today’s fragmented service experience.
“More and more, clients are examining each touch point where a customer interacts with their brand,” said Bryan Maguire, who joins iQor from Jabil and will serve as Chief Operating Officer of the company’s new Aftermarket Services division. “They understand consumers are judging companies by the quality of these experiences and the speed in which they can resolve issues. We believe that through our shared focus on service and logistics excellence we can develop new and innovative ways to better serve customers through integrated solutions.”
iQor is a global provider of business process outsourcing and product support services with 32,000 employees in 17 countries. We partner with many of the world’s best-known brands to deliver aftermarket product and customer support solutions that span the consumer value chain, from customer care and receivables management to product diagnostics and repair services. Our award-winning technology, logistics and analytics platforms enable us to measure, monitor, and analyze brand interactions, improve business processes, and find operational efficiencies that lead to superior outcomes for our partners across the customer and product lifecycles. For more information, please visit us at www.iqor.com or follow us at www.twitter.com/iqor.
Robert Burke, 646-274-3044