February 23, 2024

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Business is my step

Sykes Enterprises, Integrated, Through Its Clearlink Subsidiary, Acquires Particular Finance Electronic Media Firm the Penny Hoarder

8 min read

TAMPA, Fla., Dec. 21, 2020 (World NEWSWIRE) — Sykes Enterprises, Included (“SYKES” or the “Company”) (NASDAQ: SYKE), a main whole lifestyle cycle provider of international consumer engagement providers, multichannel desire technology and electronic transformation, currently announced by means of its electronic promoting subsidiary Clearlink the acquisition of Taylor Media Company, proprietor of The Penny Hoarder (“TPH”), a main unbiased particular finance electronic media business whose mission is offering financial empowerment. Started in 2010 by Kyle Taylor, St. Petersburg, Florida based mostly TPH empowers millions of individuals to make smart possibilities with their money, by sharing actionable and inspirational suggestions and assets on how to make, conserve and deal with dollars. Its substantial content material library and experience within particular finance has allowed TPH to husband or wife with a huge community of clients throughout the credit rating, investing, banking and insurance coverage types. Its perseverance to providing the ideal articles at the correct time for its readers has developed a loyal, substantial-intent viewers that positions TPH as a premier purchaser acquisition associate for its customers. This acquisition extends Clearlink’s existing leadership in household-providers and insurance coverage into the broader money products and services field, although also adding more expertise in paid media promoting. Additionally, as a result of this acquisition, Clearlink will be gaining entry to a portfolio of shopper logos, mostly sector disruptors, within credit history, investing, banking and insurance policy.

“Through our Clearlink Electronic Media group, we are concentrated on creating a portfolio of digital media assets that enable people discover, get and use products and solutions that improve their daily lives. TPH innovations this initiative by growing our portfolio into the very significant industry of own finance. The insights, awareness and abilities that we obtain through the TPH transaction will not only empower us to enable shoppers make informed selections about economical products and providers, it will also help us bolster the brand and expansion of economical services shoppers all more than the world,” commented Sykes Enterprises, Incorporated’s President and Chief Executive Officer Chuck Sykes.

TPH generated approximately $50 million of revenue on a trailing twelve-thirty day period basis ended September 30, 2020. Less than the terms of the transaction, the Company will invest in the stock of TPH for an all-dollars acquire thought of $102.5 million. The thought is expected to be funded as a result of a mixture of the Company’s credit rating facility and income on hand.

“This acquisition marks a considerable milestone and validation of hard function from The Penny Hoarder workforce. We’re enthusiastic to have discovered a associate in SYKES who believes in our mission of aiding buyers make much better monetary choices. The money companies field is changing fast and individuals want an ally in navigating this new economy more than at any time. Our partnership will give us a leg up in conference these issues although supplying more options for our workers and advertisers. We could not be extra thrilled to join the workforce,” remarked Kyle Taylor, founder and Main Executive Officer of The Penny Hoarder.

The Business anticipates the transaction, which is predicted to close before year-finish 2020, to be accretive to 2021 diluted earnings for every share and options to quantify the accretion concentrations when it releases its fourth quarter 2020 economic results in February 2021.

“We are thrilled to welcome The Penny Hoarder crew into the SYKES relatives. With these types of strong alignment in equally our culture and mission, I’m energized to see what we will accomplish with each other,” mentioned Ted Roxbury, President of Clearlink.

JEGI | CLARITY (www.jegiclarity.com), the major unbiased financial investment lender for the world-wide media, information, advertising and technology sectors, represented The Penny Hoarder in this transaction. Shumaker, Loop & Kendrick, LLP served as SYKES’ legal advisor.

About Sykes Enterprises, Incorporated
Sykes Enterprises, Incorporated (“SYKES” or “the Company”) is a leading company of multi-channel need generation and world wide customer engagement solutions. The Corporation offers differentiated total lifecycle purchaser engagement alternatives and providers mostly to International 2000 organizations and their close clients principally in the financial providers, communications, know-how, transportation & leisure and healthcare industries. SYKES’ differentiated full lifecycle administration expert services platform proficiently engages clients at each and every touchpoint in the consumer journey, which include digital marketing and acquisition, product sales expertise, customer support, technological support and retention, a lot of of which can be optimized by a suite of robotic course of action automation (“RPA”) and artificial intelligence (“AI”) solutions. The Corporation serves its consumers via two geographic running locations: the Americas (United States, Canada, Latin The us, South Asia and Asia Pacific) and EMEA (Europe, the Center East and Africa). Its Americas and EMEA areas mainly supply shopper-engagement answers and expert services with an emphasis on inbound multichannel need generation, customer services and specialized assist to its clients’ prospects. These solutions are shipped via several interaction channels which includes telephone, e-mail, social media, text messaging, chat and electronic self-services. The Business also presents a variety of organization assistance companies in the United States that include things like services for its clients’ inside support operations, from technical staffing providers to outsourced corporate assist desk companies. In Europe, the Business provides success solutions, which incorporates get processing, payment processing, stock manage, product shipping and delivery and merchandise returns managing. On top of that, by the acquisition of RPA company Symphony Ventures Ltd (“Symphony”) coupled with its financial investment in AI through XSell Technologies, Inc. (“XSell”), the Company also delivers a suite of options these kinds of as consulting, implementation, hosting and managed services that optimizes its differentiated entire lifecycle management products and services system. SYKES’ total assistance featuring helps its customers acquire, keep and maximize the life time value of their shopper interactions. The Firm has created an intensive world-wide get to with client engagement centers across 6 continents, like North The usa, South The usa, Europe, Asia, Australia and Africa. It provides price-effective methods that crank out demand from customers, improve the client provider knowledge, boost more powerful brand name loyalty, and convey about significant levels of efficiency and profitability. For supplemental information and facts remember to visit www.sykes.com.

About Taylor Media Company, Owner of The Penny Hoarder
The Penny Hoarder is 1 of the nation’s largest own finance internet sites, achieving hundreds of thousands of visitors every single month. Its reason is to share actionable articles and means to teach people how to make, save and deal with their cash. To learn much more about The Penny Hoarder, go to https://www.thepennyhoarder.com/.

Ahead-Looking Statements

This press release may have “forward-wanting statements,” including SYKES’ estimates of its long run small business outlook, potential clients or money effects. Statements concerning SYKES’ objectives, expectations, intentions, beliefs or approaches, or statements that contains words these as “believe,” “estimate,” “project,” “expect,” “intend,” “may,” “anticipate,” “plans,” “seeks,” “implies,” or related expressions are supposed to establish this kind of ahead-seeking statements. It is significant to observe that SYKES’ genuine results could differ materially from these in this kind of forward-searching statements, and undue reliance must not be put on these statements. Statements about the results of the COVID-19 pandemic on our organization, functions, financial effectiveness and prospective customers may perhaps constitute forward-looking statements and are subject to the threat that the actual impacts may possibly vary, possibly materially, from what is mirrored in people forward-on the lookout statements because of to aspects and upcoming developments that are uncertain, unpredictable and in a lot of cases over and above our control, including the scope and period of the pandemic, steps taken by governmental authorities in reaction to the pandemic, and the direct and indirect impression of the pandemic on our shoppers, 3rd get-togethers and us. Between the important components that could bring about this sort of precise outcomes to differ materially are (i) the effect of financial recessions in the U.S. and other elements of the world, (ii) fluctuations in international enterprise disorders and the worldwide economic system, (iii) SYKES’ means of keeping margins, (iv) SYKES’ skill to proceed the expansion of its guidance services revenues by means of supplemental complex and shopper engagement facilities, (v) forex fluctuations, (vi) the timing of sizeable orders for SYKES’ goods and services, (vii) decline or addition of considerable shoppers, (viii) the early termination of contracts by customers, (ix) SYKES’ capacity to recognize deferred income as a result of delivery of products or satisfactory overall performance of services, (x) building delays of new or expansion of existing buyer engagement facilities, (xi) troubles or delays in applying SYKES’ bundled service choices, (xii) failure to obtain product sales, promoting and other aims, (xiii) variants in the terms and the components of companies made available underneath SYKES’ standardized deal which includes individuals for future bundled support choices, (xiv) adjustments in applicable accounting rules or interpretations of these kinds of rules, (xv) delays in SYKES’ capability to create new products and solutions and providers and marketplace acceptance of new items and expert services, (xvi) speedy technological modify, (xvii) political and state-specific hazards inherent in conducting enterprise overseas, (xviii) SYKES’ means to entice and retain essential management staff, (xix) SYKES’ means to even more penetrate into vertically integrated marketplaces, (xx) SYKES’ ability to expand its world wide presence by way of strategic alliances and selective acquisitions, (xxi) SYKES’ ability to continue to create a competitive edge by means of subtle technological capabilities, (xxii) the ultimate result of any lawsuits or penalties (regulatory or usually), (xxiii) SYKES’ dependence on trends towards outsourcing, (xxiv) hazard of interruption of complex and buyer engagement heart operations thanks to this sort of factors as fire, earthquakes, inclement weather conditions and other disasters, electrical power failures, telecommunications failures, unauthorized intrusions, computer system viruses and other emergencies, (xxv) the existence of substantial competitors, (xxvi) the capability to get and preserve grants and other incentives, which includes tax holiday seasons or if not, (xxvii) hazards linked to the integration of the businesses of SYKES, which includes the Qelp, Clearlink, WhistleOut, Symphony and Taylor Media Corporation acquisitions and the impairment of any related goodwill, (xxviii) the skill to execute on initiatives to handle inefficiencies all around recruitment and retention in the U.S. and rationalize underutilized potential methodically and (xxix) other threat aspects stated from time to time in SYKES’ registration statements and stories as filed with the Securities and Trade Commission. All ahead-searching statements integrated in this press launch are made as of the day hereof, and SYKES undertakes no obligation to update any this kind of ahead-hunting statements, irrespective of whether as a end result of new information and facts, long term events, or or else.

For more information make contact with:
Subhaash Kumar
Sykes Enterprises, Integrated
(813) 233-7143

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