Epixtar of US buys out local telemarketing company

Business process outsourcing (BPO) provider Epixtar Corp. will acquire full ownership of IMS Philippine subsidiary Innovative Marketing Strategies International Inc. (IMS Asia) for $14.4 million, company officials said.

Under the deal, which is expected to be concluded next month, Epixtar will acquire the privately-held IMS through a combination of cash and stock payments.

Florida-based Epixtar is among the leaders in BPO and call center operations in the Philippines.

IMS, on the other hand, has been a force in the U.S. telemarketing industry since 1996, delivering results to its Fortune 500 and other enterprise clients in the financial services, telecommunications, and publishing industries.

"We intend to bring our time-tested methodology to Epixtar’s formidable operations in the Philippines; we know what makes telemarketing campaigns succeed for our clients," said IMS president Brad Yeater, who was eventually appointed executive vice president for operations at Epixtar.

Epixtar chief executive officer David Srour, for his part, said: "This acquisition conforms to Epixtar’s intent to grow rapidly in line with our clients’ requirements for quality, cost-effective solutions, and reliable on-shore and offshore capacity. This gives the IMS client base an option to lower costs without sacrificing performance."

Epixtar has been building call center operations in the Philippines since last year. To date, the company has successfully completed the acquisition of I-Call Global Services Corp. assets and expanded that company’s former location in Alabang to approximately 250 seats.

Epixtar is developing its 1,600-seat regional headquarters in Eastwood City Cyberpark; 350 seats are fully operational in Eastwood with another 700 coming on line in August with the final completion scheduled for November 2004.

The company is also developing a call center in Dumaguete, Negros Oriental. Epixtar plans to continue its expansion in the Philippines and hopes to be operating at least 5,000 seats by the end of 2005.