Startek, Inc.: M&A transaction — Startek completes sale of 51% stake in CCC for ~$69M cash; plans $55M debt prepayment

Startek, Inc.

Sold 51% interest in Contact Center Company (CCC) to Solutions; received ~$68.9M in cash, subject to working capital adjustments.
Enterprise value for Startek's stake was ~$61.5M; total CCC enterprise value ~$120M (SAR 450M).
Expects pre-tax gain on sale of ~$15.5M; tax impact ~$6.6M.
Will apply $55M of proceeds to prepay senior term loan facility to improve balance sheet.
CEO Bharat Rao says this results in the strongest balance sheet in five years; focus on core business.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

Startek, Inc. completed a disposition involving Arabian Internet and Communications Services Company for enterprise value of approximately $61.5 million (closed 2023-04-03).

Action: disposition
Counterparty: Arabian Internet and Communications Services Company
Consideration: enterprise value of approximately $61.5 million
Closing: 2023-04-03

Exact text from the filing

Communications Services Company (Solutions). Effective today, Solutions has acquired 51% Startek stake in Contact Center Company (CCC) for an enterprise value of approximately $61.5 million. Solutions will also acquire the remaining 49% stake from the Company’s joint venture partner, Saudi Telecom Company (STC). Startek plans to use $55 million from the net proceeds

View on SEC.gov

Browse all m&a transactions →

Source: SEC EDGAR

accession 0001437749-23-009770

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.