Convergys Acquires Wireless Billing Contracts from ALLTEL

Convergys Corporation is acquiring certain billing and customer care assets from ALLTEL Communications Inc., a subsidiary of ALLTEL, for $37 million. The price represents approximately one time the anticipated 2004 revenue for the contracts. Additional earn-out payments are possible based on future performance.


As part of the acquisition, Convergys will begin providing billing services to more than 10.5 million additional wireless and wireline subscribers, and will add several new corporations to its list of billing and customer care clients including Cingular, Centennial Communications, and Commonwealth Telephone.


Dave Dougherty, Executive Vice President, Global Information Management, Convergys, said the "strategic acquisition provides us with additional wireless and wireline market share, important new clients, and fuels the growth of our Professional Services business."http://www.convergys.com