Transcom Holding AB (publ) today announced that the company has signed and closed an agreement to divest its operations in Chile. The transaction concludes the divestment of Transcom’s operations in Latin America following the divestment of operations in Colombia year 2016 and Peru year 2017.
“Our strategic decision to exit the Latin American market is influenced by a major shift in market conditions during the last years, and macroeconomic changes that negatively affected the viability of Latin American contact centers as an offshore delivery solution for clients in Spain. Transcom has always been a marginal player for the domestic Latin American markets. To streamline our operations and focus on our core markets, Europe and the global English speaking region, we have now decided to divest our operations in Chile”, says Michael Weinreich, President & CEO, Transcom.
The divested unit had a turnover of EUR 5.6 million in 2018 and has approximately 540 employees.
“I am delighted that the current management team will continue to run the business in Concepción, Chile, as a stand-alone company, focusing on serving regional clients”, continues Michael Weinreich.