Story of Sykes Enterprises: Founder of John H. Sykes
Journey of Sykes
In 1977, a determined entrepreneur named John H. Sykes
founded Sykes Enterprises in Charlotte, North Carolina. The company started as
a provider of engineering and design services for major corporations. Early
clients included big names like IBM, AT&T, and Texas Instruments. John’s
idea was to support businesses with technical expertise, and that vision quickly
gained traction.
Shifting to Customer Support
The business took a significant turn in 1992 when Sykes
acquired Jones Technologies, a call center company based in Sterling, Colorado.
This acquisition marked the company’s entry into the customer service and
business process outsourcing (BPO) space. From here on, Sykes began
transitioning from a technical service firm to a global provider of customer
support solutions.
A New Home in Tampa
In 1993, Sykes Enterprises moved its headquarters to Tampa,
Florida, positioning itself closer to business opportunities and expanding
markets. The relocation signaled the beginning of a new growth phase and helped
the company align itself with global outsourcing demands emerging in the 1990s.
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Going Public and Gaining Momentum
By 1996, Sykes had grown enough to go public, getting listed
on the NASDAQ under the symbol SYKE. The move helped the company raise capital,
expand its reach, and increase its visibility in the growing tech and
outsourcing industries. Public trading also brought in new stakeholders and
expectations for consistent growth.
Leadership Transitions and Challenges
Leadership changes began in 1998, when David Grimes, a
former AT&T executive, was named President. Just two years later, he
briefly served as CEO before stepping down after three months. John Sykes
returned to lead the company, reinforcing his original vision and stability.
Then in 2004, John’s son, Charles Sykes, who had already spent 17 years at the
company, took over as President and CEO, continuing the family leadership
legacy.
Growth Through Global Acquisitions
Over the years, Sykes expanded aggressively through a series
of strategic acquisitions. Starting with Datasvar Support AB and Diagsoft Inc.
in 1996, followed by companies like Telcare, McQueen International, and
Argentina-based Apex America. They continued with big names such as ICT Group
(2010), Alpine Access (2012), Qelp (2015), Clearlink (2016), and Symphony
Ventures (2018). In 2020, they made their final acquisition Taylor Media Corp.,
known for The Penny Hoarder.
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The Big Merger with Sitel
On June 18, 2021, a major change occurred. Sitel Group, a
global BPO leader, acquired Sykes Enterprises for $2.2 billion. This deal
resulted in Sykes being delisted from the NASDAQ, officially ending its status
as a publicly traded company. The acquisition aimed to create a stronger,
united force in the customer experience industry.
A Global Giant Emerges
After the merger, the combined company had a global
workforce of 160,000 employees, serving 700+ clients in over 50 languages,
across 40 countries. This created a powerhouse with an estimated $4.3 billion
in annual revenue. The merger wasn’t just about scale it was about blending
experience, resources, and global reach.
A New Identity: Foundever
In March 2023, the final step of this journey was completed
when Sitel and Sykes fully merged into a new brand called Foundever. The
unified company represented the fusion of two industry leaders, both deeply
rooted in customer service excellence and digital transformation. Foundever
carries forward the combined legacy into the future.
A Lasting Legacy
From humble beginnings in 1977 to becoming part of a global
giant in 2023, Sykes Enterprises evolved dramatically. Under the leadership of
the Sykes family, the company constantly adapted to industry shifts through
innovation and acquisition. Though the Sykes name has retired, its impact
continues within Foundever, proving that vision, family leadership, and smart
growth can shape global success.
Timeline: Key Milestones of Sykes Enterprises
|
Year |
Event |
|
1977 |
John H. Sykes founded Sykes Enterprises in Charlotte,
North Carolina. |
|
1992 |
Entered customer service by acquiring Jones Technologies. |
|
1993 |
Relocated corporate headquarters to Tampa, Florida. |
|
1996 |
Became a publicly traded company on NASDAQ under
"SYKE". |
|
1998 |
David Grimes appointed president; briefly became CEO in
2000. |
|
2000 |
Grimes resigned; John Sykes resumed CEO role. |
|
2004 |
Charles Sykes became President & CEO. |
|
1996–2020 |
Series of acquisitions, including ICT Group, Clearlink,
and The Penny Hoarder. |
|
June 18, 2021 |
Acquired by Sitel Group for $2.2 billion; delisted from
NASDAQ. |
|
March 2023 |
Sykes and Sitel merged to form Foundever. |
