TAMPA, Fla., Dec. 21, 2020 — Sykes Enterprises, Incorporated (“SYKES” or the “Company”) (NASDAQ: SYKE), a foremost complete everyday living cycle company of global buyer engagement solutions, multichannel need technology and digital transformation, now declared by way of its digital marketing subsidiary Clearlink the acquisition of Taylor Media Corporation, operator of The Penny Hoarder (“TPH”), a major unbiased private finance digital media business whose mission is providing monetary empowerment. Established in 2010 by Kyle Taylor, St. Petersburg, Florida based TPH empowers hundreds of thousands of people to make sensible possibilities with their cash, by sharing actionable and inspirational guidance and means on how to make, help save and take care of dollars. Its considerable information library and know-how inside own finance has authorized TPH to companion with a large network of clientele across the credit score, investing, banking and insurance plan types. Its determination to delivering the appropriate information at the right time for its viewers has developed a faithful, superior-intent audience that positions TPH as a premier shopper acquisition spouse for its clientele. This acquisition extends Clearlink’s present leadership in property-providers and insurance policies into the broader economical products and services marketplace, while also incorporating extra experience in compensated media advertising. In addition, via this acquisition, Clearlink will be gaining obtain to a portfolio of customer logos, primarily current market disruptors, inside of credit score, investing, banking and insurance policies.
“Through our Clearlink Electronic Media team, we are targeted on developing a portfolio of digital media belongings that help customers obtain, acquire and use items and companies that make improvements to their every day life. TPH improvements this initiative by expanding our portfolio into the quite huge marketplace of individual finance. The insights, understanding and skills that we get by way of the TPH transaction will not only help us to support individuals make knowledgeable choices about money products and solutions and solutions, it will also help us fortify the manufacturer and development of fiscal companies consumers all about the globe,” commented Sykes Enterprises, Incorporated’s President and Chief Government Officer Chuck Sykes.
TPH produced about $50 million of income on a trailing twelve-thirty day period basis ended September 30, 2020. Underneath the phrases of the transaction, the Organization will invest in the stock of TPH for an all-dollars buy thought of $102.5 million. The consideration is predicted to be funded by a mix of the Company’s credit rating facility and cash on hand.
“This acquisition marks a sizeable milestone and validation of challenging operate from The Penny Hoarder workforce. We’re energized to have identified a associate in SYKES who thinks in our mission of helping consumers make greater monetary decisions. The money companies business is modifying quickly and buyers require an ally in navigating this new overall economy much more than at any time. Our partnership will give us a leg up in meeting these problems even though supplying extra alternatives for our employees and advertisers. We could not be far more thrilled to be part of the crew,” remarked Kyle Taylor, founder and Chief Govt Officer of The Penny Hoarder.
The Corporation anticipates the transaction, which is envisioned to close ahead of year-finish 2020, to be accretive to 2021 diluted earnings for every share and designs to quantify the accretion amounts when it releases its fourth quarter 2020 money final results in February 2021.
“We are thrilled to welcome The Penny Hoarder crew into the SYKES household. With these types of robust alignment in each our lifestyle and mission, I’m excited to see what we will reach jointly,” mentioned Ted Roxbury, President of Clearlink.
JEGI | CLARITY (www.jegiclarity.com), the leading unbiased expense lender for the world wide media, information, marketing and advertising and engineering sectors, represented The Penny Hoarder in this transaction. Shumaker, Loop & Kendrick, LLP served as SYKES’ legal advisor.
About Sykes Enterprises, Integrated Sykes Enterprises, Integrated (“SYKES” or “the Company”) is a foremost company of multi-channel demand generation and world wide consumer engagement products and services. The Firm delivers differentiated complete lifecycle shopper engagement solutions and companies principally to Worldwide 2000 organizations and their stop shoppers principally in the money companies, communications, technologies, transportation & leisure and health care industries. SYKES’ differentiated entire lifecycle administration products and services platform successfully engages customers at just about every touchpoint within the buyer journey, like electronic marketing and advertising and acquisition, product sales knowledge, consumer assistance, specialized guidance and retention, lots of of which can be optimized by a suite of robotic course of action automation (“RPA”) and artificial intelligence (“AI”) solutions. The Enterprise serves its clientele by two geographic functioning areas: the Americas (United States, Canada, Latin The us, South Asia and Asia Pacific) and EMEA (Europe, the Middle East and Africa). Its Americas and EMEA regions mainly present client-engagement solutions and services with an emphasis on inbound multichannel need generation, customer services and technical support to its clients’ prospects. These services are shipped through multiple interaction channels together with cell phone, email, social media, textual content messaging, chat and digital self-support. The Organization also delivers many business assistance providers in the United States that incorporate companies for its clients’ internal assist functions, from complex staffing products and services to outsourced company assistance desk solutions. In Europe, the Corporation presents fulfillment products and services, which involves get processing, payment processing, stock regulate, products delivery and solution returns dealing with. In addition, by the acquisition of RPA provider Symphony Ventures Ltd (“Symphony”) coupled with its financial commitment in AI through XSell Technologies, Inc. (“XSell”), the Enterprise also provides a suite of options this kind of as consulting, implementation, internet hosting and managed providers that optimizes its differentiated whole lifecycle management products and services platform. SYKES’ comprehensive assistance featuring allows its purchasers get, retain and boost the life span value of their shopper associations. The Corporation has created an extensive international attain with shopper engagement centers across 6 continents, which includes North The usa, South The united states, Europe, Asia, Australia and Africa. It provides price-powerful solutions that deliver desire, enhance the purchaser company knowledge, endorse more powerful brand name loyalty, and provide about large levels of functionality and profitability. For further information you should pay a visit to www.sykes.com.
About Taylor Media Corporation, Proprietor of The Penny Hoarder The Penny Hoarder is a single of the nation’s premier own finance web sites, reaching thousands and thousands of readers each month. Its purpose is to share actionable posts and resources to train men and women how to earn, preserve and control their money. To find out far more about The Penny Hoarder, visit https://www.thepennyhoarder.com/.
Forward-On the lookout Statements
This press launch could include “forward-seeking statements,” which include SYKES’ estimates of its foreseeable future small business outlook, prospective customers or economical benefits. Statements relating to SYKES’ targets, anticipations, intentions, beliefs or methods, or statements made up of words these as “believe,” “estimate,” “project,” “expect,” “intend,” “may,” “anticipate,” “plans,” “seeks,” “implies,” or comparable expressions are meant to establish these kinds of forward-searching statements. It is essential to take note that SYKES’ actual outcomes could vary materially from those people in this sort of forward-wanting statements, and undue reliance should really not be placed on these kinds of statements. Statements about the effects of the COVID-19 pandemic on our small business, functions, financial efficiency and prospective customers could represent ahead-hunting statements and are subject matter to the threat that the genuine impacts may vary, quite possibly materially, from what is mirrored in individuals ahead-seeking statements owing to elements and potential developments that are unsure, unpredictable and in several conditions beyond our management, like the scope and length of the pandemic, actions taken by governmental authorities in reaction to the pandemic, and the immediate and oblique impression of the pandemic on our shoppers, third get-togethers and us. Among the the vital aspects that could bring about these precise outcomes to differ materially are (i) the impact of economic recessions in the U.S. and other pieces of the planet, (ii) fluctuations in global small business problems and the world wide economic system, (iii) SYKES’ skill of retaining margins, (iv) SYKES’ means to go on the expansion of its support provider revenues by means of more technical and shopper engagement centers, (v) currency fluctuations, (vi) the timing of sizeable orders for SYKES’ merchandise and expert services, (vii) reduction or addition of sizeable customers, (viii) the early termination of contracts by purchasers, (ix) SYKES’ potential to figure out deferred profits by way of shipping and delivery of products and solutions or satisfactory performance of products and services, (x) design delays of new or enlargement of current customer engagement centers, (xi) troubles or delays in employing SYKES’ bundled company offerings, (xii) failure to accomplish gross sales, promoting and other targets, (xiii) variants in the phrases and the aspects of companies supplied underneath SYKES’ standardized contract like those people for foreseeable future bundled services choices, (xiv) modifications in relevant accounting concepts or interpretations of this sort of principles, (xv) delays in SYKES’ capability to build new solutions and providers and current market acceptance of new products and solutions and services, (xvi) swift technological transform, (xvii) political and nation-distinct risks inherent in conducting enterprise abroad, (xviii) SYKES’ potential to attract and keep important management personnel, (xix) SYKES’ skill to further penetrate into vertically built-in markets, (xx) SYKES’ means to grow its world-wide existence by way of strategic alliances and selective acquisitions, (xxi) SYKES’ ability to go on to set up a competitive benefit by way of advanced technological capabilities, (xxii) the top final result of any lawsuits or penalties (regulatory or in any other case), (xxiii) SYKES’ dependence on developments toward outsourcing, (xxiv) hazard of interruption of technological and shopper engagement center operations owing to this sort of elements as fire, earthquakes, inclement weather and other disasters, ability failures, telecommunications failures, unauthorized intrusions, computer system viruses and other emergencies, (xxv) the existence of sizeable competitors, (xxvi) the means to get and retain grants and other incentives, which includes tax holidays or or else, (xxvii) dangers relevant to the integration of the enterprises of SYKES, which includes the Qelp, Clearlink, WhistleOut, Symphony and Taylor Media Corporation acquisitions and the impairment of any similar goodwill, (xxviii) the skill to execute on initiatives to deal with inefficiencies close to recruitment and retention in the U.S. and rationalize underutilized capability methodically and (xxix) other risk components outlined from time to time in SYKES’ registration statements and reports as submitted with the Securities and Trade Fee. All ahead-hunting statements provided in this push launch are designed as of the day hereof, and SYKES undertakes no obligation to update any this kind of forward-on the lookout statements, whether as a outcome of new information and facts, upcoming gatherings, or usually.
For further details get hold of: Subhaash Kumar Sykes Enterprises, Integrated (813) 233-7143