TDCX, a Singapore-based digital customer experience (CX) solutions provider for technology companies, has on Monday announced its acquisition of Open Access BPO, a United States (US) headquartered outsourcing company.

The acquisition strengthens TDCX’s ability to meet the growing demand for strategic outsourced services, with new locations in Davao, Manila and Taipei, as companies seek to leverage outsourcing to cope with the fast-changing business environment and tight labor market, TDCX said in a statement.

Founded in 2006, Open Access BPO is a high-growth provider of omnichannel and multilingual client experience, back-office support and content moderation solutions, providing end-to-end business operations support to global blue-chip companies in the
healthcare, technology, financial services, e-commerce, and human capital management industries.

According to the statement, the global business process outsourcing (BPO) market is expected to hit $491.53 billion by 2029, with Asia alone growing at a compounded annual growth rate of 5.9 percent to become a US$109.92 billion industry by 2029.

The ability for BPO partners to deliver intelligent solutions with better insights and problem-solving for more complex issues makes it an attractive option for companies, increasing their agility and freeing them up to focus on core competitive business activities.

“Business cycles are moving more quickly than ever. Strategic outsourcing is similarly evolving at a rapid pace,

“Companies at the forefront of leveraging strategic outsourcing see it as a critical driver for innovation, flexibility, and global expansion and our acquisition of Open Access BPO strengthens our ability to seize these opportunities,” said Laurent Junique, Chief Executive Officer and Founder, TDCX.

With the firm’s combined delivery locations and deepened expertise in verticals including fintech and healthtech, he opined that the firm will be able to create greater value for its colleagues and clients.

According to him, this milestone is another step in the firm’s ambition to support the growth of the digital economy.

He noted that over the last two decades, the firm has been a key partner to many ‘born-digital’ companies as they scaled their operations.

“We now see a new wave of innovators and industries such as foundation model companies building artificial intelligence that can reason and generate human-like text, autonomous vehicle firms revolutionizing transportation and humanoid robotics companies creating intelligent machines for labor and logistics,

“Many of these barely existed a decade ago and we see great potential in supporting companies that are now shaping the future of technology and business,” he added.

Ben Davidowitz, Chief Executive Officer of Open Access BPO, said the outsourced CX industry is poised for growth, driven by the increasing demand for personalized customer experiences and adoption of advanced technologies.

“By joining forces with TDCX, we open more options for our clients and have greater scale to compete on the global stage,” he said.

According to him, the firm’s employees will similarly benefit from the combined organization, given the strong cultural alignment and common desire to provide fulfilling careers for its people.

“Looking ahead, we are eager to leverage our strengths and further our passion for delivering exceptional CX,” he added.

According to the statement, both companies will continue to operate under their respective brands to ensure a seamless transition for employees, clients, and partners.

Open Access BPO’s leadership, specifically Davidowitz, Chief Executive Officer, and Henry Chang, President and Co-founder, will
continue to serve as advisors.

Joy Sebastian, Vice President of Global Operations at Open Access BPO, along with the rest of the leadership team, will also continue to play a key role in managing operations to ensure a smooth transition for clients.

Baird acted as financial advisor to Open Access BPO, with Reed Smith LLP as its legal counsel. Clark Hill PLC served as legal advisor to TDCX.

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