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Benzinga
Benzinga
Business
Anusuya Lahiri

Here's Why ServiceSource Shares Are Soaring Today

Concentrix Nasdaq
  • Concentrix Corporation (NASDAQ:CNXC) agreed to acquire customer journey experience company ServiceSource International, Inc (NASDAQ:SREV) in an all-cash transaction of $1.50 per share. 
  • The purchase price represents a 47% premium to ServiceSource's unaffected closing stock price on May 6.
  • Concentrix is a leading provider of customer experience (CX) services and technologies.
  • "We are delighted to join forces with Concentrix and the opportunity it provides for us to execute on our strategy to drive client success by bringing the world's greatest brands closer to their customers," commented Gary B. Moore, ServiceSource's Chair and CEO. 
  • Concentrix held $142.2 million in cash and equivalents as of February 28.
  • Price Action: SREV shares traded higher by 41.7% at $1.45 on the last check Monday.
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