Onex to buy Softbank's service unit

Article Abstract:

Onex Corp. of Toronto, Canada, a merchant bank, will acquire Softbank Services Group of Buffalo, NY, a unit of Softbank Corp. of Japan that provides third-party direct sales as well as customer service and technical support for software and hardware customers. Onex's s purchase is designed to complement the services of Celestica Inc. in which Onex holds a controlling interest. Celestica of Toronto, manufactures electronics equipment for computer makers, including Dell Computer Corp. Softbank's sale of its unit is in line with its strategy of concentrating on its Internet investments. The company owns a 31% stake in Yahoo Inc. as well as interests in Genocities and ETrade Securities Inc.

Comment:

Is selling its software & hardware customer service provider to investment firm Onex Corp of Toronto, Canada

Japan, Computer Services, Computer Systems Design and Related Services, Information technology services, Softbank Corp.

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Onex buys Softbank unit to bolster customer service

Article Abstract:

Onex Corp., a Toronto, Ontario-based company, has acquired Softbank Services Group, a Buffalo, NY-based unit of Softbank Corp. of Japan that provides sales and technical support for clients, for an undisclosed amount. Onex said the addition of Softbank Services to its customer service business complements its purchase of North Direct Response Inc. in 1998. Softbank said the sale of Softbank Services was prompted by the increasing competition with bigger customer service providers, which cater to customers in various industries.

Comment:

Buys Softbank Services Group for an undisclosed amount

United States, Acquisitions & mergers, Foreign operations, Process, Physical Distribution, and Logistics Consulting Services, Marketing Consulting Services, Financial Holding Companies, Offices of Bank Holding Companies, Onex Corp.

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