Convergys

In 1998, a new company called Convergys was formed, born from the combination of Cincinnati Bell Information Systems (CBIS) and MATRIXX Marketing, two subsidiaries of Cincinnati Bell. The idea was to create a focused entity dedicated to the burgeoning fields of customer and information management. That same year, Convergys launched an Initial Public Offering (IPO), making it an independent company poised for growth. The company quickly established itself as a major player in the business process outsourcing (BPO) industry. It provided a wide range of services, including agent-assisted customer care, self-service software, and billing systems for large corporations in telecom, finance, and healthcare. Throughout the 2000s and 2010s, Convergys grew by acquiring other companies to expand its capabilities, including adding numerous contact centers globally. After two decades as a publicly traded company on the NYSE, Convergys entered a new chapter. On June 28, 2018, it was announced that SYNNEX Corporation would acquire Convergys in a deal valued at $2.43 billion. The acquisition was completed on October 5, 2018, and Convergys was merged with SYNNEX's own customer experience subsidiary, Concentrix. This merger created the second-largest global customer engagement services company, marking the end of the Convergys name but cementing its legacy within the industry.