Business Process Outsourcing M&A Update

1Q 2020

RESOURCE HIGHLIGHTS

  • BPO M&A market was active in Q1 2020 with a record high 39 deals closed in the first three months
  • Total capital invested was up 15% from Q1 2019 as there were more large $1B EV tranche transactions in Q1 2020
  • In Q1 2020, public companies in the BPO sector underperformed the S&P 500 index by 4.7%
  • PE investors were more active than strategic buyers in both deal volume and capital invested in Q1 2020
  • The acquisition of Competence Call Center by Telus International in an approximately $1 billion deal represented the largest transaction in Q1
  • Valuations (stated as multiples of EBITDA and revenue) for M&A transactions trended upwards in Q1

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