Information technology equipment distributor Synnex Corp. has acquired IBM’s customer-care outsourcing business for $505 million. The unit will be integrated with Synnex’s Concentrix subsidiary, which provides customer care services for clients in more than 12 industries. As part of the deal, IBM will enter into a multi-year agreement with Synnex and Concentrix will become an IBM partner for business process outsourcing customer care services.

Silicon Valley-based corporate and securities partner Allison Leopold Tilley led the Pillsbury team advising Synnex, which included Silicon Valley partners Jorge del Calvo, C. Brian Wainwright and David Jaffer; counsel Noelle Matteson; and senior associate Christina Pearson. San Francisco partners Christine Richardson and Glenn Snyder and Sacramento senior counsel Thomas Makris also assisted on the deal.

According to Bloomberg Businessweek, one analyst at investment banking firm Stifel called the deal “transformative.” He said the acquisition will add about $1.2 billion to Synnex’s small but fast-growing global business services unit and add to earnings after the first year.


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