VXI Global Solutions, which is backed by Bain Capital, has acquired Symbio. No financial terms were disclosed. Symbio is a provider of outsourced product development solutions.
LOS ANGELES, Jan. 19, 2015 /PRNewswire/ — VXI Global Solutions (VXI), a global leader in Business Process Outsourcing (BPO) and IT Outsourcing (ITO) services announced today its acquisition of Symbio, a provider of Outsourced Product Development (OPD) services. Through the acquisition, VXI will gain innovative software product development, design, and quality assurance capabilities from Symbio. The expanded company will be able to enhance the entire end-to-end customer value chain by providing all processes from customer sales and services to product development and service delivery. VXI is a Bain Capital portfolio company and after the acquisition will employ 17,000 experts across the United States, Europe, South America and Asia-Pacific. The combined company will continue under the two brands for the time being.
In today’s markets, the pace of consumer demands has accelerated which means that companies need to be able to turn customer insight into new products and services rapidly. This often requires resources that companies do not possess, and integrated solution capabilities across many corporate functions. Through the acquisition, VXI and Symbio will be able to provide their customers a unique offering that enables this rapid development and creates competitive advantage for their customers.
“Market leaders are seeking ways to evolve into the next phase of servicing their customers in order to move beyond the traditional models of contact center and omni-channel support. Taking advantage of current and future interactive technologies to make consumers’ lives easier and hassle free is the key to retaining and growing market share. The acquisition of Symbio will help the new VXI to deliver business-driven solutions to our clients to help them win in the marketplace every day,” says Eva Wang, CEO of VXI.
The combined company will benefit from each entity’s special expertise. VXI is an established leader at providing voice of the customer (VoC) BPO services to global brands. Symbio offers the complete portfolio of RDaaS (R&D as a Service) solutions, including: strategic insight, agile software development and quality assurance, and globalization. Together the companies will create a unique combination of high-level engineering at scale. As an active investor, Bain Capital will provide the new company with expert insight in business development and management, in addition to creating global business opportunities for the company.
“This is a game changer for our clients and the IT and business services industry as a whole. By combining VXI’s industry leading BPO capabilities with Symbio’s product development capabilities, we can help our clients to develop more effective customer-centric innovation strategies and enhance the entire user experience value chain. I’m excited by this once-in-a lifetime opportunity to drive new value for both company’s clients,” says Jacob Hsu, CEO of Symbio.
“Through this acquisition it will combine VXI strong execution capabilities and Symbio’s technology platform to create unmatched product offering and capabilities globally. Our aim is to provide clients with the best customer experience and now we have a world class team to deliver that,” says Jonathan Zhu, Managing Director from Bain Capital.
The new company will be a disruptive player in the industry, as it is able to offer truly global services through its multiple offices and expertise around the world. Having both sales and delivery scale in China, is just one concrete example of the company’s ability to truly enhance the customer value around the world. The combined company will employ 17,000 skilled experts across the US, Europe, South-America and Asia Pacific.
About VXI Global Solutions
VXI Global Solutions (VXI) is a leading provider of business process and information technology outsourcing services to its clients. VXI specializes in call center and BPO services, software development, quality assurance testing, and infrastructure outsourcing. VXI creates custom solutions in business-to-business and business-to-consumer applications which allow clients to achieve success in their market goals. VXI applications leverage emerging and classic communication channels. VXI’s services range from complete call center services, to maintaining applications, to building solutions using superior tools and technologies. VXI is head quartered in Los Angeles, USA. www.vxi.com
Symbio established in 1994, is an international co-creation technology partner that helps its customers create high quality products and future innovations. By combining cutting-edge technological know-how, advanced global delivery networks and customized solutions, Symbio enables high-quality software product development quickly, cost-effectively and innovatively. Symbio’s customers include Alibaba, BNP Paribas, Google, HSBC, Intel, Microsoft, and Volvo. Symbio has eight development centers and offices across the U.S., Europe and Asia. www.symbio.com
About Bain Capital
Bain Capital, LLC (www.baincapital.com) is one of the world’s foremost privately-held alternative investment firms, with approximately $80 billion of assets under management in several pools of capital including private equity, venture capital, public equity, credit products and absolute return. Bain Capital’s more than 400 professionals are collectively the single largest investor in all of its funds and are dedicated to investing in and building its portfolio companies. Founded in 1984, Bain Capital has made private equity, growth, and venture capital investments in more than 450 companies around the world, and has deep experience across key vertical industries including consumer/retail, financial services and institutions, healthcare, industrials, and technology, media and telecommunications. Bain Capital has offices in London, Dublin, Munich, Boston, New York, Chicago, Palo Alto, Tokyo, Shanghai, Hong Kong, Mumbai and Melbourne.