(Bloomberg) -- Teleperformance offered to buy Luxembourg-based customer service company Majorel Group Luxemborg SA for €3 billion ($3.3 billion) in cash and shares.

The Paris-based company, which provides content moderation and customer service to tech giants including TikTok and Amazon.com Inc., agreed to pay €30 per share for its smaller competitor, it said in a statement on Wednesday. That’s a 43% premium to Majorel’s previous closing price. 

Majorel’s two largest shareholders — Bertelsmann SE and Africa’s Saham Group, which together own 79% of the company’s stock — agreed to the deal. The companies will receive Teleperformance shares and will hold as much as 7.2% of the combined company after it closes. 

“This is an immediate win-win deal for the shareholders of both groups, and the common commitment of the leadership of both groups is to supercharge our creation of value,” said Teleperformance Chief Executive Officer Daniel Julien in a statement. 

The news comes the day after the French outsourcing company lowered its 2023 revenue growth outlook to between 8% and 10% from previous guidance of 10%. The company attributed this revision to negative currency effects and the relocation of some US activities offshore. The merged companies will have annual revenue of about $12 billion, Teleperformance said. 

Bertelsmann and Saham created Majorel in 2019 following an agreement to combine their customer relationship management businesses. The call center operator held an initial public offering in 2021. 

(Updates with additional details throughout)

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