Synnex Corp, the joint investment of Taiwan-based Synnex and Mitac in the United States, announced that it reached a deal with IBM to buy the latter's customer care services business for US$505 million – US$430 million in cash and US$75 million worth of Synnex Corp shares, as reported by Taiwan's China Times on September 12. After the acquisition, IBM's customer care services will be integrated with Synnex's 100% owned subsidiary, Concentrix, which will have around 45,000 employees in over 50 service centers around the world. Concentrix will become IBM's strategic partner in global customer care business process outsourcing services. The transaction is expected to bring US$120 million to Synnex's EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization) in the first year, according to the report.