Apollo Global in advanced talks to buy US call center technology services provider West Corp
28 April 2017
Private equity firm Apollo Global Management is in advanced talks to buy US call center technology services provider West Corp, Reuters yesterday reported, citing people familiar with the matter.
Apollo has prevailed in an auction for West Corp, but talks will continue and could still end without a deal being done, the report said.
Reuters said it has no information about the deal price, but said West Corp's more than $3 billion debt is weighing on closing the deal.
West Corp shares closed at $26.91 on Thursday, giving the company a market capitalisation of nearly $2.3 billion.
West Corp had, last November, said that it had hired investment bank Centerview Partners and law firm Sidley Austin to help the company explore financial and strategic alternatives.
Omaha, Nebraska-based West Corp develops technology-enabled communications for call centres.
Its clients include small and medium enterprises from a range of industries, including telecommunications, retail, financial services, public safety, education, technology and healthcare.
West Corp has sales and operations in the US, Canada, Europe, the Middle East, Asia-Pacific, Latin America and South America.