RABAT, Sept. 18 (Xinhua) -- Morocco's leading investment fund Saham Management Company and German publisher Bertelsmann have decided to merge their customer service businesses, the Moroccan company announced in a statement Tuesday.
Saham and Bertelsmann will create a 50-50 joint venture that employs 48,000 staff in 25 countries, the statement said.
The new venture will be set up in early 2019 and expects to generate some 1.4 billion U.S. dollars in revenues, it noted.
Commenting on the deal, Saham spokesman Moulay Mhammed Elalamy said "We are fully committed to investing in long-term growth, expanding our regional coverage, providing digital solutions to our customers and creating even more jobs."
"The new company will benefit from an advantageous position to participate in the strong growth of Customer Relationship Management (CRM) markets around the world, and especially for digital companies, telecommunications providers and financial institutions," he added.
