News & Events

The Firm is representing J.P. Morgan Securities LLC (“JPMorgan”) as financial advisor to Concentrix Corporation (Nasdaq: CNXC) (“Concentrix”) in connection with Concentrix’ agreement to combine with Webhelp in a transaction valued at approximately $4.8 billion, including net debt. Webhelp is currently owned by its management and Groupe Bruxelles Lambert (“GBL”). Under the terms of the agreement, Concentrix will acquire 100% of the shares of Webhelp. Shareholders of Webhelp will receive 14.9 million shares of Concentrix, €500 million of cash proceeds and a €700 million note payable in two years, bearing an interest rate of 2%, with the right to earn an additional 0.75 million shares of Concentrix subject to certain conditions. Upon closing of the transaction, Concentrix shareholders will own approximately 78%, and Webhelp shareholders will own approximately 22%, of the combined company. The transaction is expected to close by the end of 2023, subject to customary closing conditions, including approval by Concentrix shareholders and regulatory approvals.

Concentrix is a leading global provider of customer experience (“CX”) solutions and technology across 40 countries and 6 continents. Webhelp designs, delivers and optimizes human experiences for today’s digital world, including sales, service, content moderation and credit management, with almost 125,000 employees across 58 countries.

The Simpson Thacher team includes Jakob Rendtorff and Izaak Lustgarten (M&A).