RTTNews | Jun 18, 2021 10:07AM EDT

10:07 Friday, June 18, 2021 (RTTNews.com) - Sykes Enterprises, Inc. (SYKE) shares are gaining more than 30 percent on Friday morning trade, after the company said it agreed to be acquired by Sitel Group in an all-cash transaction of around $2.2 billion. Upon the closing of the deal, Sykes will become a privately held company and its shares will cease trading on Nasdaq.

As per the agreement, Sitel Group's subsidiary will acquire all outstanding shares of Sykes common stock. The deal is expected to be completed in the second half of 2021.

The combined company, with more than 155,000 employees across global offices in 39 countries, is expected to have revenue greater than $4 billion in 2021.

Currently, shares are at $53.56, up 30.05 percent from the previous close of $41.17 on a volume of 655,860. For the 52-week period, the shares have traded in a range of $24.75-$53.93 on average volume of 116,562.

Read the original article on RTTNews ( https://www.rttnews.com/3203513/stock-alert-sykes-up-30-after-agreeing-to-be-acquired-by-sitel-group-in-2-2-bln-deal.aspx)

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