Corporate Report: Jan. 10

Jabil selling aftermarket services to New York City firm for $725 million
Business outsourcing services company iQor has signed a definitive agreement to acquire the aftermarket services business of St. Petersburg-based electronics firm Jabil Circuit Inc. for $725 million.

iQor says the transaction will combine its customer-support capabilities with Jabil aftermarket experience to provide a technology support organization that can handle everything from basic customer care (including sales, technical support and accounts receivables management) to diagnostics and repair services.

Following completion of the transaction, New York City-based iQor will have more than $1.5 billion in revenues, more than 31,000 employees and operations in 16 countries around the world. As part of a multiyear contract, iQor Aftermarket Services will become the exclusive aftermarket service provider for Jabil Circuit Inc., which will retain a financial stake in the combined company.