USA Networks Will Acquire PRCMedia conglomerate USA Networks Inc., parent of Ticketmaster, Home Shopping Network, USA Network and other properties, said it would acquire outsourced customer service provider Precision Response Corp. in a stock-for-stock transaction valued at about $608 million.
PRC, Miami, will be integrated with USA Electronic Commerce and Services, a USA Networks company that also provides outsourced customer services. The combined, centrally managed teleservices operations of PRC, HSN and Ticketmaster will include about 10,000 workstations in 40 call centers throughout the world, which handle more than 160 million calls per year.
"Our partnership with them allows us to grow PRC at an unprecedented rate," said PRC CEO David Epstein, in a prepared statement.
Epstein will remain CEO after the acquisition, which is expected to be completed by June.