Atento Announces the Sale of its Operations in Morocco to Intelcia Group
- Sale encompasses Atento´s operations in Morocco that provide service to the French and Moroccan markets.
- Transaction allows Atento to continue to strengthen its focus on core markets in Spain and the Latin America region.
- Atento remains the leading provider of customer experience services and solutions in the $10.4 billion CRM BPO Latin American market and ranks third worldwide.
NEW YORK, Aug. 5, 2016 /PRNewswire/ -- Atento S.A. (NYSE: ATTO), the leading provider of customer relationship management and business process outsourcing services (CRM BPO) in Latin America, and one of the top three providers worldwide, today announced that it has entered into an agreement with Intelcia Group for the sale of 100% of Atento Morocco SA, encompassing Atento´s operations in Morocco providing services to the Moroccan and French markets. Atento´s operations in Morocco, which provide services to the Spanish market, are excluded from the transaction and will continue operating as part of Atento Spain. The transaction is subject to regulatory approval and is expected to close before Atento´s fiscal year-end 2016. Financial terms of the transaction were not disclosed.
The sale allows Atento to continue to strengthen its focus on core markets in Spain and in the $10,4 billion CRM BPO market in the Latin America region. Every day Atento connects more than 500 million consumers with more than 400 leading brands, delivering a differentiated customer experience that generates value for consumers and companies.
Atento delivers a differentiated customer experience by managing customer relations through a unique blend of people, innovative services, technology and multichannel infrastructure to build sales, customer service, technical and back office support across all channels, including everything from traditional voice to social media. Our deep understanding of the sectors and socio cultural environments where companies operate allow us to provide unique insights into our customers' businesses, operations and consumer needs. As a result, Atento has become the trusted partner to optimize the consumer experience for companies in Latin America and Spain.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "intends," "continue" or similar terminology. These statements reflect only Atento's current expectations and are not guarantees of future performance or results. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. These risks and uncertainties include, but are not limited to, competition in Atento's highly competitive industries; increases in the cost of voice and data services or significant interruptions in these services; Atento's ability to keep pace with its clients' needs for rapid technological change and systems availability; the continued deployment and adoption of emerging technologies; the loss, financial difficulties or bankruptcy of any key clients; the effects of global economic trends on the businesses of Atento's clients; the non-exclusive nature of Atento's client contracts and the absence of revenue commitments; security and privacy breaches of the systems Atento uses to protect personal data; the cost of pending and future litigation; the cost of defending Atento against intellectual property infringement claims; extensive regulation affecting many of Atento's businesses; Atento's ability to protect its proprietary information or technology; service interruptions to Atento's data and operation centers; Atento's ability to retain key personnel and attract a sufficient number of qualified employees; increases in labor costs and turnover rates; the political, economic and other conditions in the countries where Atento operates; changes in foreign exchange rates; Atento's ability to complete future acquisitions and integrate or achieve the objectives of its recent and future acquisitions; future impairments of our substantial goodwill, intangible assets, or other long-lived assets; and Atento's ability to recover consumer receivables on behalf of its clients. In addition, Atento is subject to risks related to its level of indebtedness. Such risks include Atento's ability to generate sufficient cash to service its indebtedness and fund its other liquidity needs; Atento's ability to comply with covenants contained in its debt instruments; the ability to obtain additional financing; the incurrence of significant additional indebtedness by Atento and its subsidiaries; and the ability of Atento's lenders to fulfill their lending commitments. Atento is also subject to other risk factors described in documents filed by the company with the United States Securities and Exchange Commission.
These forward-looking statements speak only as of the date on which the statements were made. Atento undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise
About Atento
Atento is the largest provider of customer relationship management and business process outsourcing (CRM BPO) services in Latin America, and among the top three providers globally, based on revenues. Atento is also a leading provider of nearshoring CRM/BPO services to companies that carry out their activities in the United States. Since 1999, the company has developed its business model in 14 countries where it employs more than 150,000 people. Atento has over 400 clients to whom it offers a wide range of CRM/BPO services through multiple channels. Atento's clients are mostly leading multinational corporations in sectors such as telecommunications, banking and financial services, health, retail and public administrations, among others. Atento´s shares trade under the symbol ATTO on the New York Stock Exchange (NYSE). In 2015, Atento was named one of the World´s 25 Best Multinational Workplaces by Great Place to Work® for a third consecutive year. For more information visit www.atento.com
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