Stream Global Services

Stream Global Services, Inc.
Type Public (AMEX: SGS)
Industry Business process outsourcing
Headquarters Wellesley, Massachusetts, U.S.
Revenue US$2,100,000 (2007)[1]
Net income US$1,100,000 (2007)[1]
Employees 30,000 + (2011) [2]
Website stream.com

Stream Global Services, Inc. (formerly known as Global BPO Services Corp.) is a global outsourcing solution provider[3], providing BPO services for Fortune 1000 clients [4] (including Dell[1] and Eircom [5] ), with more than 30,000 employees in 50 service centers of 23 countries[6] in 50 contact centers; it currently manages more than 100 million voice, e-mail, and chat contacts a year.[7] The footprint of the company includes 23 countries across North America, Europe, Philippines, India, Latin America, Middle East and Africa delivering service in over 30 languages [8]

History

Stream Holdings Corporation was founded in 1993 as a provider of customer service for a large software reseller. The firm is now a global [9] provider of sales, customer service and technical support for large companies.

Global BPO Services Corp. (AMEX: OOO) was founded by Scott Murray [10] in 2007. It announced a merger with Stream Holdings Corporation in July 2008[11], subsequently changing its name to Stream Global Services, Inc.

In 2010 CEO Scott Murray was replaced [12] by Kathy Marinello [13] [14] [15] [16], who in 2011 announced Barbara Weyl as Executive Vice President [17].

On June 1, 2010, Trillium Capital LLC, owned by Scott Murray, the founder and former CEO of Stream, made an offer to acquire 100% of Stream for $4.65 per share plus assumption of debt. The non-binding proposal also includes a provision to extend the exercisability of the public warrants by two years that would otherwise expire in October 2011. Scott Murray is a leading expert in the contact center and technology industry with deep corporate and financial relationships. The offer to acquire Stream is subject to various conditions outlined in a letter to the Board of Directors that was delivered at the Annual General Meeting of stockholders on June 1, 2011. The transaction has a total enterprise value of approximately $575 million. Trillium Capital LLC owns 4.6% of the issued and outstanding shares of Stream and 1000 public warrants. Murray has led a number of successful companies such as Stream, 3Com, Modus media and The Learning Company over the past 20 years in the Boston, MA area that have created substantial shareholder value.

References

  1. ^ a b c "Dell support firm Stream Global extends to Latin America". 2008-10-21. http://www.masshightech.com/stories/2008/10/20/daily15-Dell-support-firm-Stream-Global-extends-to-Latin-America.html. Retrieved 2008-12-10. 
  2. ^ "multilingual workforce of over 30,000 employees". http://www.finanzen.net/nachricht/Stream-Global-Services-Announces-Fourth-Quarter-and-Full-Year-2010-Results-1055946. Retrieved 2011-04-24. 
  3. ^ "operates as a global business process outsourcing service provider". http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=SGS:US. Retrieved 2011-04-24. 
  4. ^ "service provider specializing in customer relationship management for Fortune 1000 companies". http://www.pinoytechblog.com/archives/stream-global-services-wins-2010-ict-best-practices-awards. Retrieved 2011-04-24. 
  5. ^ "Stream provides technical support services for Eircom’s residential and business broadband customers". http://www.finfacts.ie/irishfinancenews/article_1020008.shtml. Retrieved 2011-04-24. 
  6. ^ "Stream Global Services Reviews". http://www.glassdoor.com/Reviews/Stream-Global-Services-Reviews-E140218.htm. Retrieved 2011-04-24. 
  7. ^ "Precisely speaking the company handles over 100 million emails, voice and chat contacts from clients across the globe annually". http://www.sourcingline.com/resources/stream-global-services-spreads-outs-bpo-businesses. Retrieved 2011-04-24. 
  8. ^ Stream Global Services www.stream.com
  9. ^ "support 35 languages across 50 locations in 22 countries". http://www.finanzen.net/nachricht/Stream-Global-Services-Announces-Fourth-Quarter-and-Full-Year-2010-Results-1055946. Retrieved 2011-04-24. 
  10. ^ "Stream Global Services: Straight Talk from CEO Scott Murray". http://www.youtube.com/watch?v=cQ0fWumEQMs. Retrieved 2011-04-24. 
  11. ^ "As of July 31, 2008, Global BPO Services Corp. was acquired by Stream Holdings Corporation, in a reverse merger transaction". http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=SGS/U:US. Retrieved 2011-04-24. 
  12. ^ "SEPARATION AGREEMENT". http://www.faqs.org/sec-filings/100820/Stream-Global-Services-Inc_8-K/dex101.htm. Retrieved 2011-04-24. 
  13. ^ "Murray is being replaced by Kathryn Marinello". http://nearshoreamericas.com/stream-ceo/. Retrieved 2011-04-24. 
  14. ^ "Marinello succeeds R. Scott Murray, who has decided to step down from the Company". http://www.businesswire.com/news/home/20100820005231/en/Stream-Global-Services-Names-Kathryn-Marinello-Chief. Retrieved 2011-04-24. 
  15. ^ "On August 19, 2010, the Board of Directors of the Company appointed Kathryn V. Marinello, age 53, to serve as Chief Executive Officer". http://www.hotstocked.com/8-k/--312029.html. Retrieved 2011-04-24. 
  16. ^ "Stream Global Services, Inc. announced that its Board of Directors has named Kathryn V. Marinello Chief Executive Officer, a Director of the Company and Chairman of the Board". Reuters. http://www.reuters.com/finance/stocks/keyDevelopments?symbol=SGS. Retrieved 2011-04-24. 
  17. ^ "Stream Global Services CEO Kathy Marinello announces Barbara Weyl Made Executive Vice President". http://www.newsonwomen.com/news_on_women/2011/04/barbara-weyl-made-executive-vice-president-at-stream-global-services.html. Retrieved 2011-04-24.