Stream Global Services, an Eagan-based call center company, announced Tuesday that it has completed its purchase of U.K.-based LBM Holdings Limited, a customer service company employing roughly 2,500 workers.
The acquisition will likely bolster Stream's sales and service offerings, according to a statement issued by the company. The purchase was worth nearly $44 million, according to a report in the Star Tribune.
“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’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.”
Stream, which moved its headquarters and more than 300 positions to Eagan in 2012, employs roughly 37,000 people in its 50 worldwide call centers. Stream provides sales, customer care and technical service support for its clients, which include a number of Fortune 1000 companies. Stream caters largely to technology, software, entertainment and telecommunications companies.
LBM, which operated six call center locations in the United Kingdom, focused on telecommunications, financial services, utilities, automotive and retail clients.
"This is a tremendous opportunity to extend the value and service offerings we bring to clients on a much larger scale and to provide new opportunities for our employees," LBM Chief Financial Officer Nicola Beamish said in the statement. "We look forward to the opportunity to add value to our existing clients and to grow with a company that has a global presence, strong reputation, and an exceptional client base."