June 12, 2024

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Sykes Enterprises, Integrated, Via Its Clearlink Subsidiary, Acquires Individual Finance Electronic Media Corporation the Penny Hoarder Nasdaq:SYKE

8 min read

(MENAFN – GlobeNewsWire – Nasdaq) TAMPA, Fla., Dec. 21, 2020 (Globe NEWSWIRE) — Sykes Enterprises, Incorporated (‘SYKES’ or the ‘Company’) (NASDAQ: SYKE), a main comprehensive life cycle provider of worldwide buyer engagement services, multichannel need technology and electronic transformation, currently announced through its electronic marketing subsidiary Clearlink the acquisition of Taylor Media Company, operator of The Penny Hoarder (‘TPH’), a primary independent private finance digital media organization whose mission is delivering money empowerment. Started in 2010 by Kyle Taylor, St. Petersburg, Florida based TPH empowers thousands and thousands of people today to make wise selections with their income, by sharing actionable and inspirational suggestions and resources on how to make, help save and take care of funds. Its extensive written content library and know-how within individual finance has authorized TPH to associate with a large network of customers across the credit history, investing, banking and coverage classes. Its dedication to offering the ideal content at the appropriate time for its viewers has created a faithful, higher-intent audience that positions TPH as a premier shopper acquisition companion for its consumers. This acquisition extends Clearlink’s existing management in residence-services and insurance into the broader economical expert services sector, whilst also including extra expertise in compensated media marketing and advertising. Furthermore, via this acquisition, Clearlink will be gaining access to a portfolio of shopper logos, largely market place disruptors, inside credit rating, investing, banking and insurance policy.

‘Through our Clearlink Electronic Media team, we are centered on constructing a portfolio of digital media assets that assistance shoppers find, buy and use merchandise and products and services that increase their day to day life. TPH improvements this initiative by increasing our portfolio into the quite big current market of particular finance. The insights, knowledge and know-how that we obtain by the TPH transaction will not only allow us to help buyers make informed selections about financial items and products and services, it will also enable us reinforce the manufacturer and growth of money companies shoppers all more than the entire world,’ commented Sykes Enterprises, Incorporated’s President and Main Government Officer Chuck Sykes.

TPH created close to $50 million of earnings on a trailing twelve-month foundation ended September 30, 2020. Under the terms of the transaction, the Enterprise will purchase the stock of TPH for an all-hard cash acquire thing to consider of $102.5 million. The thought is anticipated to be funded through a blend of the Company’s credit rating facility and income on hand.

‘This acquisition marks a significant milestone and validation of tricky perform from The Penny Hoarder staff. We are psyched to have located a partner in SYKES who thinks in our mission of serving to buyers make improved economic conclusions. The financial companies market is changing quickly and buyers require an ally in navigating this new financial state far more than ever. Our partnership will give us a leg up in conference these problems whilst offering extra possibilities for our personnel and advertisers. We could not be a lot more thrilled to sign up for the workforce,’ remarked Kyle Taylor, founder and Chief Executive Officer of The Penny Hoarder.

The Organization anticipates the transaction, which is envisioned to close right before yr-finish 2020, to be accretive to 2021 diluted earnings for each share and options to quantify the accretion concentrations when it releases its fourth quarter 2020 fiscal success in February 2021.

‘We are thrilled to welcome The Penny Hoarder group into the SYKES household. With these strong alignment in the two our lifestyle and mission, I am thrilled to see what we will achieve together,’ said Ted Roxbury, President of Clearlink.

JEGI | CLARITY ([…] ), the foremost impartial expense lender for the international media, facts, advertising and know-how sectors, represented The Penny Hoarder in this transaction. Shumaker, Loop & Kendrick, LLP served as SYKES’ legal advisor.

About Sykes Enterprises, Included
Sykes Enterprises, Integrated (‘SYKES’ or ‘the Company’) is a primary company of multi-channel need technology and worldwide consumer engagement providers. The Corporation presents differentiated total lifecycle consumer engagement remedies and companies mostly to Global 2000 firms and their end shoppers principally in the financial products and services, communications, technologies, transportation & leisure and health care industries. SYKES’ differentiated full lifecycle management products and services platform proficiently engages consumers at each touchpoint within just the purchaser journey, such as digital advertising and acquisition, revenue knowledge, client assistance, specialized guidance and retention, several of which can be optimized by a suite of robotic procedure automation (‘RPA’) and artificial intelligence (‘AI’) remedies. The Enterprise serves its purchasers via two geographic functioning regions: the Americas (United States, Canada, Latin The usa, South Asia and Asia Pacific) and EMEA (Europe, the Middle East and Africa). Its Americas and EMEA locations mostly offer consumer-engagement options and providers with an emphasis on inbound multichannel need technology,¬†customer provider and specialized aid to its clients’ customers. These services are sent through multiple communication channels including phone, electronic mail, social media, text messaging, chat and electronic self-company. The Corporation also provides several enterprise help expert services in the United States that include things like solutions for its clients’ internal assistance operations, from technological staffing services to outsourced company assist desk companies. In Europe, the Enterprise gives success products and services, which involves buy processing, payment processing, inventory management, solution delivery and solution returns handling. Also, by means of the acquisition of RPA supplier Symphony Ventures Ltd (‘Symphony’) coupled with its financial investment in AI through XSell Systems, Inc. (‘XSell’), the Company also presents a suite of options this sort of as consulting, implementation, internet hosting and managed solutions that optimizes its differentiated full lifecycle administration expert services system. SYKES’ comprehensive company offering will help its clients get, retain and raise the life time worth of their consumer interactions. The Corporation has produced an substantial world-wide attain with purchaser engagement facilities across six continents, together with North America, South The usa, Europe, Asia, Australia and Africa. It delivers charge-powerful alternatives that generate need, enrich the consumer assistance knowledge, promote much better brand loyalty, and convey about high degrees of overall performance and profitability. For supplemental info please stop by […] .

About Taylor Media Corporation, Owner of The Penny Hoarder
The Penny Hoarder is one particular of the nation’s major own finance internet websites, achieving millions of viewers just about every month. Its intent is to share actionable content and resources to train men and women how to earn, help you save and deal with their dollars. To discover additional about The Penny Hoarder, stop by https://www.thepennyhoarder.com/.

Forward-Looking Statements

This press launch may well incorporate ‘forward-wanting statements,’ which include SYKES’ estimates of its foreseeable future small business outlook, potential customers or financial benefits. Statements with regards to SYKES’ objectives, expectations, intentions, beliefs or procedures, or statements containing phrases these types of as ‘believe,’ ‘estimate,’ ‘project,’ ‘expect,’ ‘intend,’ ‘may,’ ‘anticipate,’ ‘plans,’ ‘seeks,’ ‘implies,’ or equivalent expressions are supposed to determine these forward-searching statements. It is significant to observe that SYKES’ precise final results could vary materially from individuals in these forward-looking statements, and undue reliance must not be put on these kinds of statements. Statements about the outcomes of the COVID-19 pandemic on our organization, functions, monetary effectiveness and potential clients may represent forward-searching statements and are subject to the risk that the true impacts may well differ, perhaps materially, from what is mirrored in those ahead-searching statements due to aspects and potential developments that are unsure, unpredictable and in lots of instances outside of our command, which include the scope and period of the pandemic, steps taken by governmental authorities in reaction to the pandemic, and the immediate and oblique effect of the pandemic on our purchasers, 3rd get-togethers and us. Among the critical factors that could cause this sort of actual results to vary materially are (i) the effects of financial recessions in the U.S. and other sections of the planet, (ii) fluctuations in international organization disorders and the worldwide overall economy, (iii) SYKES’ means of sustaining margins, (iv) SYKES’ ability to carry on the development of its assistance provider revenues by added technological and shopper engagement centers, (v) forex fluctuations, (vi) the timing of sizeable orders for SYKES’ solutions and solutions, (vii) loss or addition of major consumers, (viii) the early termination of contracts by purchasers, (ix) SYKES’ capability to realize deferred income by way of delivery of goods or satisfactory functionality of services, (x) design delays of new or enlargement of existing buyer engagement centers, (xi) problems or delays in applying SYKES’ bundled support offerings, (xii) failure to realize income, marketing and other objectives, (xiii) variations in the conditions and the factors of products and services provided less than SYKES’ standardized deal like those people for long run bundled assistance choices, (xiv) adjustments in applicable accounting concepts or interpretations of this sort of rules, (xv) delays in SYKES’ potential to produce new items and services and industry acceptance of new goods and expert services, (xvi) quick technological change, (xvii) political and place-specific challenges inherent in conducting business enterprise overseas, (xviii) SYKES’ ability to entice and retain important management personnel, (xix) SYKES’ means to further more penetrate into vertically integrated markets, (xx) SYKES’ capability to develop its world wide presence via strategic alliances and selective acquisitions, (xxi) SYKES’ skill to proceed to create a competitive benefit as a result of complex technological abilities, (xxii) the final outcome of any lawsuits or penalties (regulatory or otherwise), (xxiii) SYKES’ dependence on developments toward outsourcing, (xxiv) possibility of interruption of technological and buyer engagement heart operations due to this sort of elements as hearth, earthquakes, inclement weather and other disasters, electric power failures, telecommunications failures, unauthorized intrusions, pc viruses and other emergencies, (xxv) the existence of considerable level of competition, (xxvi) the capability to acquire and maintain grants and other incentives, which includes tax holidays or otherwise, (xxvii) challenges similar to the integration of the corporations of SYKES, which include the Qelp, Clearlink, WhistleOut, Symphony and Taylor Media Corporation acquisitions and the impairment of any relevant goodwill, (xxviii) the capability to execute on initiatives to handle inefficiencies all over recruitment and retention in the U.S. and rationalize underutilized ability methodically and (xxix) other chance things stated from time to time in SYKES’ registration statements and stories as filed with the Securities and Exchange Fee. All ahead-searching statements bundled in this press release are created as of the date hereof, and SYKES undertakes no obligation to update any this sort of ahead-on the lookout statements, regardless of whether as a consequence of new information, future activities, or normally.

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


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