Concentrix

Concentrix Corporation is an American business process outsourcing company headquartered in Newark, California. It was a subsidiary of SYNNEX Corporation (NYSE: SNX) since 2006 and went public as an independent company on December 1, 2020.^[4][5] Concentrix made its debut on the Fortune 500 list in 2024, ranking #499.^[6]

Concentrix Corporation

Company type	Public
Traded as	Nasdaq: CNXC S&P 400 component
ISIN	US20602D1019
Industry	Business Transformation Services
Founded	1983; 42 years ago (1983)
Headquarters	Newark, California , U.S.
Area served	Worldwide
Key people	Christopher Caldwell[1] (CEO)
Services	Call center Outsourcing Customer care Sales Technical support Debt collection
Revenue	US$7.114 billion (2023)[2]
Operating income	US$661.3 million (2023)[2]
Net income	US$437.9 million (2023)[2]
Total assets	US$12.491 billion (2023)[2]
Total equity	US$4.413 billion (2023)[2]
Number of employees	440,000 (2023)[2][3]
Website	www.concentrix.com

History and acquisitions

Concentrix was founded in 1983, and it acquired its insurance administration business solutions and services in 2013 from IBM.^[7] Concentrix has acquired eight companies since 2006, including IBM Daksh and the Minacs Group.

On June 28, 2018, Convergys and Synnex announced they had reached a definitive agreement in which Synnex would acquire Convergys for $2.43 billion in combined stock and cash, and integrate it with Concentrix.^[8]

On October 5, 2018, Convergys Corporation and Synnex announced that they had completed the merger.^[9]

On March 29, 2023, Concentrix announced the acquisition and merger of Concentrix and Webhelp in a transaction worth $4.8 billion. The overall combined company value was estimated to total around $9.8 billion.^[10] In September 2023, the European Commission had approved the acquisition, under EU Merger Regulations.^[11]

On January 15, 2025, Concentrix announced its acquisition and incorporation of Philippines' CX-SP BlinkCX, a consulting firm.^[12]

HMRC contract

In 2014, Concentrix won a £75 million contract from the UK's tax authority, HM Revenue and Customs, to review two million tax credit claims for fraud and incorrect tax credit awards.^[13] Tax credits are a form of UK social welfare benefit paid out to parents and workers on low incomes. In 2016, Concentrix was receiving heavy criticism from the cross-party parliamentary committee on welfare for incorrectly closing the claims of tens of thousands of claimants, leaving them without money for essentials.^[14] A government report disclosed that of 36,000 appeals against Concentrix, 87% were upheld.^[15] In September 2016, HMRC announced that it would not renew the contract, due to expire in 2017, although the Treasury has resisted calls for a full inquiry thus far.^[16] As a result of Concentrix's failings, thousands of claimants were also due to receive back-payments for incorrectly stopped claims.^[17] Processing the resultant case reviews cost HMRC £43 million.^[18][19]