TAMPA, Fla., Dec. 21, 2020 (Globe NEWSWIRE) — Sykes Enterprises, Incorporated (“SYKES” or the “Company”) (NASDAQ: SYKE), a foremost comprehensive everyday living cycle company of global customer engagement services, multichannel desire era and digital transformation, right now declared via its digital advertising subsidiary Clearlink the acquisition of Taylor Media Corporation, owner of The Penny Hoarder (“TPH”), a primary independent private finance electronic media organization whose mission is offering money empowerment. Started in 2010 by Kyle Taylor, St. Petersburg, Florida dependent TPH empowers thousands and thousands of men and women to make sensible options with their funds, by sharing actionable and inspirational assistance and means on how to make, preserve and regulate revenue. Its intensive content material library and expertise in personal finance has allowed TPH to spouse with a wide network of customers across the credit rating, investing, banking and insurance policy categories. Its dedication to offering the correct content material at the proper time for its readers has designed a faithful, substantial-intent viewers that positions TPH as a premier consumer acquisition companion for its clientele. This acquisition extends Clearlink’s current management in house-products and services and coverage into the broader financial solutions market, even though also including extra skills in paid out media internet marketing. Furthermore, via this acquisition, Clearlink will be attaining access to a portfolio of client logos, mostly market place disruptors, within just credit history, investing, banking and insurance policies.
“Through our Clearlink Digital Media group, we are focused on creating a portfolio of electronic media belongings that aid customers come across, buy and use solutions and services that enhance their day-to-day lives. TPH advancements this initiative by expanding our portfolio into the very big market of private finance. The insights, know-how and skills that we achieve by means of the TPH transaction will not only allow us to help customers make educated selections about money products and providers, it will also enable us bolster the brand name and development of fiscal providers clientele all about the globe,” commented Sykes Enterprises, Incorporated’s President and Chief Govt Officer Chuck Sykes.
TPH generated around $50 million of revenue on a trailing twelve-thirty day period basis ended September 30, 2020. Less than the phrases of the transaction, the Corporation will obtain the inventory of TPH for an all-cash obtain thing to consider of $102.5 million. The thought is anticipated to be funded by way of a mixture of the Company’s credit facility and income on hand.
“This acquisition marks a major milestone and validation of tricky get the job done from The Penny Hoarder group. We’re psyched to have found a associate in SYKES who believes in our mission of supporting individuals make far better fiscal conclusions. The fiscal expert services marketplace is changing fast and shoppers need to have an ally in navigating this new financial state additional than ever. Our partnership will give us a leg up in conference these troubles though giving far more prospects for our employees and advertisers. We could not be more thrilled to join the crew,” remarked Kyle Taylor, founder and Chief Government Officer of The Penny Hoarder.
The Corporation anticipates the transaction, which is envisioned to shut before 12 months-conclude 2020, to be accretive to 2021 diluted earnings for each share and options to quantify the accretion amounts when it releases its fourth quarter 2020 economical benefits in February 2021.
“We are thrilled to welcome The Penny Hoarder workforce into the SYKES family members. With this kind of powerful alignment in each our lifestyle and mission, I’m energized to see what we will accomplish jointly,” said Ted Roxbury, President of Clearlink.
JEGI | CLARITY (www.jegiclarity.com), the primary unbiased investment lender for the global media, details, promoting and technological innovation sectors, represented The Penny Hoarder in this transaction. Shumaker, Loop & Kendrick, LLP served as SYKES’ authorized advisor.
About Sykes Enterprises, Integrated
Sykes Enterprises, Incorporated (“SYKES” or “the Company”) is a foremost provider of multi-channel demand generation and global shopper engagement solutions. The Enterprise provides differentiated whole lifecycle customer engagement alternatives and services generally to World-wide 2000 companies and their end clients principally in the economic solutions, communications, technological innovation, transportation & leisure and healthcare industries. SYKES’ differentiated comprehensive lifecycle administration products and services platform successfully engages customers at each touchpoint in just the consumer journey, including electronic advertising and marketing and acquisition, income skills, buyer provider, specialized assistance and retention, a lot of of which can be optimized by a suite of robotic method automation (“RPA”) and synthetic intelligence (“AI”) remedies. The Firm serves its consumers by way of two geographic operating areas: the Americas (United States, Canada, Latin The usa, South Asia and Asia Pacific) and EMEA (Europe, the Middle East and Africa). Its Americas and EMEA regions primarily give shopper-engagement answers and products and services with an emphasis on inbound multichannel desire technology, customer company and specialized help to its clients’ consumers. These expert services are delivered by means of a number of interaction channels which includes cell phone, e mail, social media, textual content messaging, chat and digital self-provider. The Business also gives various business aid expert services in the United States that include things like services for its clients’ inner support functions, from specialized staffing services to outsourced corporate aid desk companies. In Europe, the Firm offers achievement services, which involves purchase processing, payment processing, stock control, item delivery and product or service returns dealing with. Furthermore, as a result of the acquisition of RPA company Symphony Ventures Ltd (“Symphony”) coupled with its investment in AI via XSell Systems, Inc. (“XSell”), the Business also provides a suite of alternatives such as consulting, implementation, hosting and managed products and services that optimizes its differentiated entire lifecycle management products and services platform. SYKES’ entire assistance offering can help its purchasers get, retain and boost the life time value of their client relationships. The Corporation has developed an considerable global access with consumer engagement facilities throughout six continents, including North The us, South The united states, Europe, Asia, Australia and Africa. It provides price tag-successful answers that make need, increase the shopper assistance expertise, encourage more robust brand loyalty, and bring about substantial concentrations of overall performance and profitability. For more data remember to check out www.sykes.com.
About Taylor Media Company, Operator of The Penny Hoarder
The Penny Hoarder is just one of the nation’s major own finance websites, reaching thousands and thousands of audience each thirty day period. Its goal is to share actionable content articles and methods to teach people how to get paid, help save and take care of their revenue. To find out additional about The Penny Hoarder, pay a visit to https://www.thepennyhoarder.com/.
This push release may possibly comprise “forward-hunting statements,” like SYKES’ estimates of its long term enterprise outlook, potential customers or fiscal results. Statements with regards to SYKES’ targets, expectations, intentions, beliefs or approaches, or statements that contains terms this kind of as “believe,” “estimate,” “project,” “expect,” “intend,” “may,” “anticipate,” “plans,” “seeks,” “implies,” or very similar expressions are intended to establish these types of ahead-on the lookout statements. It is vital to notice that SYKES’ genuine success could vary materially from individuals in these types of forward-wanting statements, and undue reliance must not be placed on these types of statements. Statements about the consequences of the COVID-19 pandemic on our business enterprise, functions, economical performance and prospective customers may well represent ahead-wanting statements and are subject matter to the possibility that the real impacts may perhaps vary, quite possibly materially, from what is reflected in these ahead-on the lookout statements owing to things and upcoming developments that are uncertain, unpredictable and in quite a few conditions outside of our handle, which includes the scope and length of the pandemic, actions taken by governmental authorities in response to the pandemic, and the immediate and oblique impact of the pandemic on our shoppers, 3rd get-togethers and us. Amid the vital things that could lead to this sort of true benefits to differ materially are (i) the affect of economic recessions in the U.S. and other areas of the world, (ii) fluctuations in international company conditions and the global economic climate, (iii) SYKES’ capacity of sustaining margins, (iv) SYKES’ capacity to continue on the growth of its help services revenues by way of supplemental complex and customer engagement facilities, (v) currency fluctuations, (vi) the timing of major orders for SYKES’ products and services, (vii) loss or addition of sizeable shoppers, (viii) the early termination of contracts by purchasers, (ix) SYKES’ capability to figure out deferred earnings by means of shipping of items or satisfactory overall performance of expert services, (x) building delays of new or growth of present shopper engagement facilities, (xi) issues or delays in implementing SYKES’ bundled company offerings, (xii) failure to accomplish revenue, internet marketing and other goals, (xiii) variations in the conditions and the features of companies offered underneath SYKES’ standardized contract which includes those people for long run bundled services offerings, (xiv) alterations in applicable accounting concepts or interpretations of this kind of principles, (xv) delays in SYKES’ capability to establish new items and solutions and marketplace acceptance of new products and solutions and products and services, (xvi) fast technological change, (xvii) political and place-certain risks inherent in conducting enterprise overseas, (xviii) SYKES’ potential to draw in and keep key management personnel, (xix) SYKES’ ability to further more penetrate into vertically integrated markets, (xx) SYKES’ ability to expand its world-wide presence by means of strategic alliances and selective acquisitions, (xxi) SYKES’ capacity to go on to build a aggressive advantage by way of innovative technological abilities, (xxii) the supreme outcome of any lawsuits or penalties (regulatory or usually), (xxiii) SYKES’ dependence on developments toward outsourcing, (xxiv) danger of interruption of technical and client engagement middle operations because of to these aspects as hearth, earthquakes, inclement temperature and other disasters, electric power failures, telecommunications failures, unauthorized intrusions, laptop viruses and other emergencies, (xxv) the existence of substantial competitors, (xxvi) the capability to attain and manage grants and other incentives, like tax vacations or or else, (xxvii) hazards associated to the integration of the firms of SYKES, which include the Qelp, Clearlink, WhistleOut, Symphony and Taylor Media Corporation acquisitions and the impairment of any linked goodwill, (xxviii) the ability to execute on initiatives to address inefficiencies all around recruitment and retention in the U.S. and rationalize underutilized capacity methodically and (xxix) other danger variables listed from time to time in SYKES’ registration statements and reports as filed with the Securities and Exchange Fee. All forward-hunting statements provided in this push release are designed as of the date hereof, and SYKES undertakes no obligation to update any these forward-looking statements, no matter if as a end result of new info, upcoming gatherings, or otherwise.
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Sykes Enterprises, Integrated