Minacs

Last updated
Minacs
FormerlyAditya Birla Minacs (2007-2014)
Company 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]

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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. Archived from the original on June 3, 2012. 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.
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