PISCATAWAY, N.J., Jan. 27, 2011 (GLOBE NEWSWIRE) -- PRG Group, Inc. (Pink Sheets:PRGJ), a leading full-service business process outsourcing company focused on serving middle-market enterprises, today announced that it has expanded into the United Kingdom (UK) and larger European market by opening an office in London, England. According to Gartner, a market research firm, the European market represents 25% of worldwide BPO market, valued at 175 Billion USD. Additionally, the company has identified and engaged in acquisition negotiations with an established UK based firm with existing clientele and expects to have an update for its shareholders in the coming weeks.
Uma Pandey, Chief Executive Officer of PRG Group, Inc. stated, "For years, our U.S. based clients, have been requesting our assistance with global projects for their overseas business units. We had resisted expansion as the opportunities were not consistent enough to add the additional infrastructure and overhead necessary to support such endeavors. The situation has changed; the opportunities and demand for which our solutions and services are being considered has grown exponentially. We feel the time is appropriate to take advantage of the emerging BPO UK and European markets."
Mr. Pandey added, "In order to properly support our pending opportunities, the company leadership have determined that establishing a local presence was necessary. The company has been actively pursuing its growth strategy, organic and via acquisition, and has identified an established revenue producing firm that would complement our overall service and solutions offering. We have completed preliminary discussions and have entered into the due diligence phase of this negotiation. I expect to update our shareholders shortly."
About PRG Group, Inc.
PRG Group is a global information, consulting and technology provider that specializes in delivering company wide solutions specifically in the areas of managed services, remote support, business software integration and optimization and enterprise-wide voice, data, networking, unified communications, and security solutions to customers worldwide. PRG Group, Inc. supports middle-market established businesses that already outsource, and businesses seeking to maximize return-on-investment from their in-house workforce. For more information, please visit http://www.prg-group.com.
Forward Looking Statements
Statements made in this press release that are not historical facts constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21 of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Such statements rely on a number of assumptions concerning future events, many of which are outside of the Company's control, and involve risks and uncertainties that could cause actual results to differ materially from opinions and expectations. All information in this release is as of the date hereof. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.
CONTACT: PRG Group Inc Investor_Relations@prg-group.com Tel: 732 665 0008