Technology, Media & Telecoms
France FR

Scope of intervention

Sycomore Corporate Finance advises Webhelp, its co-founders and its management team on the combination of Webhelp and Concentrix

Date of closing

September 2023

On September 25th, 2023, Webhelp and Concentrix Corporation (Nasdaq: CNXC) announced they have closed their combination in a transaction valuing Webhelp at approximately $4.0 billion, including net debt. The integration of the two companies is underway. While the combined company finalizes its permanent name, it will operate under the trade name Concentrix + Webhelp.

This transaction will create a leading global customer experience provider, crystallizing the ambition of the two groups to play a major role in the CX industry and further accelerate their respective development. Webhelp and Concentrix have both experienced exceptional growth over the past two decades, and want to enhance the strong complementarity of their offers and expertise to expand the breadth and global reach of high-value services and digital capabilities. The complementary global presence will provide a homogeneous services offering to all international clients.

Chris Caldwell, President and CEO of Concentrix, will lead the combined organization. Olivier Duha, co-founder and CEO of Webhelp, will serve as Vice-Chair of the board of directors, and will ensure the integration of the two groups alongside the CEO.


  • Enhances Webhelp and Concentrix positions as leaders in $550B+ growing CX market
  • Adds clients in attractive growing markets, further diversifying client list
  • Expands breadth and global reach of high-value services and digital capabilities
  • Strengthens support for clients and colleagues, sharing common values
  • Benefits from the support of Webhelp’s main shareholders, including GBL, founders and management, who will become shareholders of the new group in this next chapter
  • The pro forma combined company is expected to generate $9.8 billion in estimated 2023 annual revenues and $1.6 billion adjusted EBITDA across more than 70 countries

Webhelp at a glance

Webhelp designs, delivers, and optimizes unforgettable human experiences for today’s digital world – creating game-changing customer journeys. From sales to service, content moderation to credit management, Webhelp is an end-to-end partner across all B2C and B2B customer journeys. 120,000+ passionate employees across 58 countries thrive on making a difference for the world’s most exciting brands. Webhelp is currently owned by its management and GBL, a leading global investment holding, as of November 2019.

GBL at a glance

Groupe Bruxelles Lambert (“GBL”) is an established investment holding company, with over sixty years of stock exchange listing and a net asset value of €17.8bn at the end of December 2022. As a leading and active investor in Europe, GBL focuses on long-term value creation with the support of a stable family shareholder base. As a responsible company and investor, GBL perceives ESG factors as being inextricably linked to value creation.

GBL aims to grow its diversified high-quality portfolio of listed, private and alternative investments.

GBL is focused on delivering meaningful growth by providing attractive returns to its shareholders through a combination of growth in its net asset value, a sustainable dividend and share buybacks.

GBL is listed on Euronext Brussels (Ticker: GBLB BB; ISIN code: BE0003797140) and is included in the BEL20 index.

Concentrix at a glance

We’re Concentrix (Nasdaq: CNXC), a leading global provider of customer experience (CX) solutions and technology. We Reimagine everything CX to improve business performance for some of the world’s best brands, and the ones that are changing the world as we know it. Every day, we Design, Build and Run CX for over 130 Fortune Global 500 and 125 new economy clients. Whether it’s a specific solution or the whole end-to-end journey, we’ve got it covered. We’re the strategic thinkers who design brand-defining experiences. The tech geeks who build smarter solutions. And the operational experts who run it all and make it work seamlessly. Across 40 countries and 6 continents, we provide services across key industry verticals: technology & consumer electronics; retail, travel & ecommerce; banking, financial services & insurance; healthcare; communications & media; automotive; and energy & public sector.