Minacs

Last updated
Minacs
FormerlyAditya Birla Minacs (2007-2014)
TypePrivate
Founded1981
DefunctAugust 1, 2016 (2016-08-01)
FateAcquired by Synnex
Successor Concentrix
Headquarters
Oshawa, Ontario
,
Canada
Number of locations
35 (2014)
Services Customer lifecycle management, marketing, outsourcing services, customer experience and back office solutions
Owner Aditya Birla Group (2006-2014)
Number of employees
21,000 (2014)
Website minacs.com

Minacs was a Canadian business and technology outsourcing company, headquartered in Oshawa, Ontario. The company provided outsourced customer life cycle, marketing, finance and accounting, procurement, and information technology services. [1]

Contents

History

Minacs was founded in 1981 in Oshawa, Ontario, by Elaine Minacs.[ citation needed ] The company began as a temporary employment agency, before becoming a contact center business in 1999, supporting the American and Canadian automotive industries. The company subsequently grew its client portfolio to encompass leading banking, telecom, and technology clients. It also expanded its services portfolio from contact center to Customer Relationship Management (CRM), and added integrated marketing services by acquiring the US-based Phoenix Group in 2001.[ citation needed ]

In October 2006, Minacs was acquired by Aditya Birla Group, through subsidiary TransWorks. [2] Minacs and TransWorks were merged the following year, and the combined entity was renamed Aditya Birla Minacs.[ citation needed ]

In 2009, Aditya Birla Minacs opened operations centers in Vadodara (Baroda), Aurangabad, Chennai, Kolkata and Ranchi in India, to offer outsourcing services to domestic Indian clients.[ citation needed ]

In March 2010, Aditya Birla Minacs announced the acquisition of London-based Compass BPO, seeking to acquire a significant finance and accounting outsourcing capability. [3] The company also acquired the Minnesota-based Bureau of Collection Recovery (BCR) in June 2010, adding accounts receivable management and collections services to their portfolio. [4]

In 2014, Aditya Birla sold Minacs to a group of investors, including private equity firms Capital Square Partners and CX Partners, for roughly $260 million. [5]

On July 12, 2016, Synnex announced their acquisition of Minacs. [5] The deal was completed on August 1, and Minacs's operations were merged into Concentrix. [6]

Minacs office, Farmington Hills, Michigan, now owned by Concentrix Location us farmington hills michigan.jpg
Minacs office, Farmington Hills, Michigan, now owned by Concentrix

Operations

Minacs partnered with global corporations in the manufacturing, retail, telecommunication, technology, media and entertainment, banking, insurance, healthcare and public sector. As of April 2014, Minacs employed 21,000 across 3 continents, with 35 facilities in Canada, Germany, Hungary, India, Jamaica, the Philippines, the United Kingdom, and the United States.. [7]

Minacs was a contractor of General Motors, and their work included operating OnStar call centers. [8] [9] [10]

Related Research Articles

<span class="mw-page-title-main">Convergys</span> American call center software company

Convergys Corporation was a corporation based in Cincinnati, Ohio, that sold customer management and information management products, primarily to large corporations. Customer management products included agent assisted, self-service and care software tailored to the communications, financial services, technology, retail, healthcare and government markets. Information management provided convergent billing and business support system (BSS) products and services including revenue management, product and order management, and customer care management to telecom, utilities, and cable/satellite/broadband service providers. They had approximately 130,000 employees across 33 countries.

<span class="mw-page-title-main">Aditya Birla Group</span> Indian multinational conglomerate company

Aditya Birla Group is an Indian multinational conglomerate, headquartered in Mumbai. Its Revenue $60 billion net profit $4 billion operates in 100 countries with more than 250,000 employees directly and indirectly total assets $100 billion in 2022.The group expected revenue $100 billion with $10 billion net profit in 2024-25. The group was founded by Seth Shiv Narayan Birla in 1857. The group has interests in viscose staple fibre, metals, cement, viscose filament yarn, branded apparel, carbon black, chemicals, fertilisers, insulators, financial services and telecom.Its market capital $60 billion.

<span class="mw-page-title-main">HCLTech</span> Indian multinational technology company

HCLTech is an Indian multinational information technology (IT) services and consulting company headquartered in Noida, Uttar Pradesh. It is a subsidiary of HCL Enterprise. Originally a research and development division of HCL, it emerged as an independent company in 1991 when HCL entered into the software services business. The company has offices in 52 countries and over 210,966 employees.

Visma is a privately held company headquartered in Oslo, Norway that provides business software and IT related development and consultancy. The company is majority owned by Hg, a private equity firm.

<span class="mw-page-title-main">Business process outsourcing in the Philippines</span>

One of the most dynamic and fastest growing sectors in the Philippines is the information technology–business process outsourcing (IT-BPO) industry. The industry is composed of eight sub-sectors, namely, knowledge process outsourcing and back offices, animation, call centers, software development, game development, engineering design, and medical transcription. The IT-BPO industry plays a major role in the country's growth and development.

Exult Inc. was a company, headquartered in Irvine, California that provided business services related to Human Resources (HR) and Business Process Outsourcing (BPO).

IQVIA, formerly Quintiles and IMS Health, Inc., is an American multinational company serving the combined industries of health information technology and clinical research. IQVIA is a provider of biopharmaceutical development and commercial outsourcing services, focused primarily on Phase I-IV clinical trials and associated laboratory and analytical services, including consulting services. It has a network of more than 88,000 employees in more than 100 countries and a market capitalization of $49 Billion as of August 2021. As of 2017, IQVIA was reported to be one of the world's largest contract research organizations.

<span class="mw-page-title-main">EXL Service</span> American multinational professional services

EXL Service is a global analytics and digital solutions company serving industries including insurance, healthcare, banking and financial services, media, retail, and others. The company is headquartered in New York and has more than 37,000 professionals in locations throughout the United States, Europe, Asia, Latin America, Australia and South Africa.

<span class="mw-page-title-main">Synnex</span> American information technology company

Synnex was an American multinational corporation that provides information technology (IT) services to businesses. It merged with competitor Tech Data to form TD Synnex. It was founded in 1980 by Robert T. Huang and based in Fremont, California. As an information technology supply chain services company, it offered services to original equipment manufacturers, software publishers and reseller customers.

WNS (Holdings) Limited is a global business process management company headquartered in Mumbai, India. The company has its expansion with 60 delivery centers worldwide.

Outsource Partners International (OPI) was acquired by EXL in June 2011. The acquisition marked the end of F&A outsourcing of OPI. OPI was a multinational company with headquarters in New York, NY and Los Angeles, CA. It operates from more than a dozen global locations throughout the US, UK, India, Bulgaria, and Malaysia. OPI was formed in 2002 through the acquisition of big four accounting firm's Business Process Outsourcing (BPO) division and itAccounts, a finance and accounting BPO company with an offshore F&A outsourcing facility in Bangalore, India. It offers finance, accounting and tax outsourcing services.

<span class="mw-page-title-main">TMF Group</span>

TMF Group is a multinational professional services firm headquartered in Amsterdam, Netherlands. The independent group provides accounting, tax, HR and payroll services to businesses operating on an international scale. TMF Group, with 125 offices in 83 jurisdictions, employing approximately 7,800 people, provides compliance and administrative services to over 15,000 clients in a €10 billion market. It also has over €125 billion in Assets Under Administration (AUA).

Qualfon, Inc. is a global provider of call center, back office, and business process outsourcing (BPO) services. Founded in 1995, Qualfon provides outsourcing services including call centers, customer service, customer acquisition and retention, customer on-boarding, as well as back-office processing. The company is privately held. Qualfon operates in the Philippines, Guyana, Mexico, the United States, China and India.

<span class="mw-page-title-main">Genesys (company)</span> American technology company

Genesys, or Genesys Telecommunications Laboratories, Inc., is an American software company that sells customer experience (CX) and call center technology to mid-sized and large businesses. It sells both cloud-based and hybrid cloud software. The company was founded in 1990 and was acquired by investment firms Permira Funds and Technology Crossover Ventures (TCV) in February 2012.

Softline Holding Plc, the holding company of the Softline Group, is a Cyprus registered company with the headquarters in London.

<span class="mw-page-title-main">Telus International</span> Canadian corporation

TELUS International is a Canadian technology company which provides IT services and multilingual customer service to global clients. Clients include corporations in technology, games, communications & media, eCommerce, fintech, travel & hospitality, healthcare, and automotive industries.

<span class="mw-page-title-main">Khoros, LLC</span> American software company founded in 2019

Khoros, formerly Spredfast + Lithium, is a global customer engagement software company that provides online community management, social media marketing, social media analytics, digital care, and content management software and services to enterprise brands and agencies. Khoros owns over a dozen patents for social media marketing, online community, and care technologies.

Acquire Business Process Outsourcing is a global business process outsourcing firm that specializes in back office support, customer acquisition, customer service, technical support, lead generation and software development.

Alvaria, Inc. formerly Aspect Software, is an American multinational software company that sells call center and customer experience(CX) software technology to large enterprises. The company is headquartered in Westford, Massachusetts. In 2021, Aspect purchased Noble Systems Corporation; the resultant organization was officially announced in September 2021 as Alvaria, Inc.

<span class="mw-page-title-main">Oracle Advertising and Customer Experience (CX)</span> Cloud-based marketing service

Oracle Advertising and Customer Experience (CX) is a suite of cloud-based applications offered by Oracle Corporation that includes tools for advertising, marketing, sales, e-commerce, customer service.

References

  1. "About Minacs". Minacs. Archived from the original on 14 May 2014. Retrieved 14 May 2014.
  2. "Aditya Birla Group Acquires Minacs Worldwide Shares". Lexpert. Retrieved 2022-11-27.
  3. "Aditya Birla Minacs acquires UK's Compass BPO". Reuters. 2010-03-11. Retrieved 2022-11-27.
  4. "Aditya Birla Minacs acquires UK's Compass BPO". The Economic Times. Retrieved 10 March 2010.
  5. 1 2 Kotzev, Ivan (2016-07-12). "Concentrix to Acquire Minacs in Latest Big M&A Deal to Rock the CMS Top 10". NelsonHall. Retrieved 2022-11-27.
  6. "Concentrix Corporation completed the acquisition of Aditya Birla Minacs Worldwide Ltd. from CX Partners, Capital Square Partners and others shareholders". MarketScreener. Retrieved 2022-11-27.
  7. "Corporate Fact Sheet" (PDF). Minacs. Archived from the original (PDF) on 8 August 2014. Retrieved 15 May 2014.
  8. "Minacs Drives CRM to General Motors". Enterprise Apps Today. 2001-07-05.
  9. "Minacs hires more than 500". The Globe and Mail . 2002-07-19. Retrieved 2022-11-27.
  10. "Growth Report". Detroit Free Press . 2002-11-05. p. 2C via Newspapers.com.