Stream Global Services, a sales, customer service, and technical support business process outsourcing provider, has acquired LBM Holdings, a demand and lead generation solutions provider that designs and delivers complete customer lifecycle solutions for business-to-consumer and business-to-business brands.
LBM, which is based in England, has approximately 2,500 employees across six locations and clients in a range of industries, including telecommunications, financial services, utilities, automotive and retail.
Stream expects the acquisition to enhance its sales and revenue generation service offerings. Stream currently delivers sales and related services through its proprietary StreamSELLER service offering.
"This transaction is about delivering greater value to our clients and long-term growth for our company," said Stream chairman and CEO Kathy Marinello, in a statement. "LBM has proven experience in creating highly precise target lists of people who will be more inclined to buy products and services, which will further enhance the StreamSELLER offering. StreamSELLER focuses on everything involved with the sales process, from recruiting, hiring, and training the right people to the consistent use of proven sales behaviors that close more sales with greater predictability. LBM's people, expertise and capabilities, combined with Stream's financial strength, global presence, and sales and service offerings, will establish a broader portfolio of high-value service offerings for our clients."
Nicola Beamish, chief financial officer at LBM, called the acquisition "a tremendous opportunity to extend the value and service offerings we bring to clients on a much larger scale and to provide new opportunities for our employees. We look forward to the opportunity to add value to our existing clients and to grow with a company that has a global presence, strong reputation, and an exceptional client base."