Deloitte Consulting Outsourcing and Convergys expect to close on the transaction "as soon as practicable." Financial terms are not being disclosed. The acquisition will be neutral to Convergys' 2005 earnings per share.
"In today's highly competitive market, companies are finding outsourcing to be a strategically attractive alternative to internally operating certain business functions like human resource management, customer care, and finance and accounting," said Katrina Menzigian, vice president of Business Solutions and BPO services, IDC., in a company statement. "As a global outsource service provider, Convergys is addressing a growing trend to outsource finance and accounting functions so that companies can focus on their product or service delivery instead of this internal administrative operation."