ITIDA Inks MoU with Stream Global Services to Expand its Works in Egypt
The Information Technology Industry Development Agency (ITIDA) has signed memorandum of understanding with Stream Global Services to expand its works from Egypt and aiming to provide variety pack of outsourcing services for its customers across worldwide.
Eng. Yasser ElKady, CEO of ITIDA asserted that Stream is still benefiting from the incentives package offered by ITIDA, which represents providing the support to the firms that operating in training fields and to provide cadres so as to encourage them for investing and expanding their business in Egypt.
ElKady stated that the company’s continuation to select Egypt in order to expand its business abroad, adding that ITIDA has many various projects and programs which will support the qualified human cadres and it is fundamental pillar to attract more foreign direct investment in the telecom sector and information technology outsourcing.
Stream Global Services (formerly known as Global BPO Services Corp.),[3] provides BPO services for Fortune 1000 clients,[4] with more than 37,000 employees in 22 countries[5] in 50 contact centers; it currently manages more than 100 million voice, e-mail, and chat contacts a year.[6] The footprint of the company includes countries across North America, Europe, Asia Pacific, Latin America, Middle East and Africa delivering service in over 35 languages.
Global BPO Services Corp. was founded by R. Scott Murray [8] in 2007. Global BPO Services raised $250 million in an IPO of a Special Purpose Acquisition Corp in October 2007. It closed the acquisition of Stream Holdings Corporation in July 2008 for $300 million in cash and assumption of debt. In connection with the acquisition of Stream, the company completed a private stock sale to Ares Management for $150 million and a tender offer for most of the publicly held shares of Stream, except those held by the founders of Global BPO Services. Scott Murray is considered one the world’s leading experts in BPO services using integrated technology.
