TRG Customer Solutions, Inc., doing Business as IBEX Global Solutions, Inc, provides business process outsourcing and customer relationship management solutions and technologies. The company provides customer solutions, including customer lifecycle management that enables clients to acquire, monitor, and retain their revenue generators. It also offers teleservices, such as customer care, sales and marketing, technical support, and interactive voice response; email and chat services, which include general inquiries, order management, billing support, transaction handling, auto response, and help desk; and fulfillment services, such as document printing and mailing, welcome and marketing kits,...
1700 Pennsylvania Avenue NW
Washington D.C., DC 20006
Founded in 2004
TRG Customer Solutions Inc Enters into Related Party Transaction with The Resource Group International Limited
Sep 29 14
IBEX Global Solutions plc announced that TRG Customer Solutions Inc., a 100% owned subsidiary of the company entered into a related party transaction with The Resource Group International Limited in connection with the sub-licence from the IBEX subsidiary of software licences by TRGI. Of the software licences purchased by the IBEX subsidiary, the majority is not of use to the company or the IBEX subsidiary but rather is to be used by TRGI Affiliates. Accordingly, TRGI and the IBEX subsidiary have entered into an agreement pursuant to which TRGI will sub-licence the software licences from the IBEX Subsidiary with the following terms: TRGI will agree to pay to the IBEX subsidiary an amount in cash equal to that which the IBEX subsidiary is required to pay IBM Global and Microsoft per month under the terms of the original acquisition of the software licences by the company, plus a further 10% administration charge; The IBEX subsidiary has the right to require TRGI to buy the Software Licences for an amount equal to the licence fees that remain payable (plus any early repayment amount) to IBM Credit or Microsoft upon 90 days written notice by the IBEX Subsidiary; and TRGI has the right to purchase the software licences for an amount equal to the licence fees that remain payable (plus any early repayment amount) to IBM Credit or Microsoft, plus $1, upon 30 days written notice to the IBEX Subsidiary. The $3.3 million payable to IBM Global will remain as a liability on the company's balance sheet, the payments of which will be satisfied by TRGI. However, there will be no cash cost to the company arising from the execution of the software licences acquisition agreement.