Convergys considers splitting into two public companies

By Lisa Kerner

Charlotte, N.C., Sept. 2 - Convergys Corp. said it is evaluating a potential separation of its information management business to create two independent, publicly traded companies.

Centerview Partners will assist Convergys' board and management in the evaluation as the company's financial adviser, according to a Convergys news release.

A decision regarding the separation is expected during the fourth quarter of 2008.

"This evaluation is a part of our plan to align the company's assets and capabilities with our leadership in relationship management and to unlock value for shareholders," president and chief executive officer Dave Dougherty said in the release.

"We believe it's prudent to consider separating information management into an independent entity as a means of enhancing the strength and focus of each of our businesses to better serve our clients, provide more opportunities for our employees, and bolster each business' competitive position," Dougherty added.

The company cautioned that there is no assurance the evaluation will result in any changes to Convergys' current corporate structure.

Convergys, a Cincinnati-based relationship management solutions provider, continues to expect its $335 million acquisition of Intervoice, Inc. to close later this week, it said in the release.

Dallas-based Intervoice provides converged voice and data solutions for the network and enterprise markets.

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