Stream Global Services Renews Agreement With ITIDA for Egyptian Workforce Development

BOSTON, June 22 /PRNewswire-FirstCall/ -- Stream Global Services, Inc., (NYSE Amex: SGS), a premium business process outsource (BPO) service provider specializing in customer relationship management for Fortune 1000 companies, today announced that it has renewed its agreement with the Egyptian Information Technology Development Agency (ITIDA) to employ and train Egyptian employees in its Cairo facility.  ITIDA, as part of its initiative to empower, grow and develop Egypt's information and communications technology industry, will continue to subsidize certain employee training costs for Stream.  Stream expects its staff in Cairo to grow from 1000 employees to close to 4000 employees over the next three years.

Stream's Chairman and CEO, Scott Murray, signed the agreement today with Dr. Hazem Youssef Abdelazim, CEO, ITIDA, during the American Chamber of Commerce in Egypt event, taking place in Washington, DC. The agreement was witnessed by the Minister of Communications and Information Technology, His Excellency, Dr. Tarek Kamel. In addition to the signing, Mr. Murray will also participate in a panel discussion with other leading global companies regarding its recent business success in Egypt.

"Since the opening of our Cairo service center just over a year ago, Stream has seen tremendous growth and success in the region," said Murray.  "The excellent language skills, labor pool scalability and exceptional government support has enabled us to provide unparalled service programs for our clients.  We are thrilled to continue our work with the ITIDA to ensure that we quickly and effectively ramp up training and support efforts in Cairo for these clients."

According to a recent Ovum research article, Egypt has a significant role to play in the delivery of customer-facing services to Western end-users.  According to Ovum analyst and author, Peter Ryan, "Stream's decision to move into Egypt for contact center delivery highlights the significant value this market has to offer."

Commenting on the agreement, ITIDA CEO, Dr. Hazem Youssef Abdelazim said, "We are pleased to continue our work with Stream to further develop the technology talent base of Egypt.  We look forward to our continued partnership over the coming years to ensure Stream's clients reap the benefits of Egypt's advanced technology infrastructure and highly educated workforce. More importantly, Stream's success with ITIDA support, proves that Egypt has positioned itself as next large scale location for global BPO and Call Center requirements."

About Stream Global Services

Stream Global Services is a premium business process outsource (BPO) service provider specializing in customer relationship management including sales, customer care and technical support for Fortune 1000 companies.  Stream is a trusted partner to some of the world's leading technology, computing, telecommunications, retail, entertainment/media, and financial services companies.  Our service programs are delivered through a set of standardized best practices and sophisticated technologies by a highly skilled workforce of approximately 30,000 employees based out of 50 solution centers in 22 countries supporting more than 35 languages.  Stream continues to expand its global presence and service offerings to increase revenue, improve operational efficiencies and drive brand loyalty for its clients. To learn more about the company and its complete service offering, please visit www.stream.com.

About IDITA

The Information Technology Industry Development Agency (ITIDA) is a governmental entity affiliated to Egypt's Ministry of Communications and Information Technology.  It is responsible for growing and developing Egypt's position as a leading global outsourcing location by attracting foreign direct investment to the industry and maximizing the exports of IT services and applications.  

Located in the heart of the modern business environment at Smart Village, the six hundred acre technology and business park on the outskirts of Cairo, ITIDA is a self-sustainable entity that drives the IT industry in Egypt and raises awareness among the Egyptian people of the benefits and use of ICT to advance socio-economic welfare of the whole community. To learn more about ITIDA and its activities, please visit www.itida.gov.eg

SOURCE Stream Global Services, Inc.