March 4, 2010 – NorthgateArinso, a human resources software and services provider, will acquire the HR management division of Convergys. The transaction is worth approximately $85 million in cash at closing and $15 million in cash over three years. It involves NorthgateArinso acquiring the assets, including the global HR service delivery network and entire customer portfolio, of Convergys' HR management division. NorthgateArinso's American operations will continue to be led by Trey Campbell. On completion of the acquisition, NorthgateArinso will employ around 8,000 people globally, of which a third will be based in North America. “The U.S. domestic market accounts for over a third of the global HR services market. As it is home to many multinational businesses, it is a critical marketplace for us as a specialist and we expect to strongly develop our position in the U.S. over the coming years,” said Chris Stone, CEO at Northgate Information Solutions. With its world headquarters in the U.K., NorthgateArinso has offices in 31 countries on five continents delivering services in over 70 countries through a network of eight service delivery centers. NorthgateArinso's approximately 5,000 staff members serve more than 20 percent of the FORTUNE Global 500 companies, and it is one of the five largest HR service providers in the world.
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