DALLAS, December 11 /PRNewswire/ --
- Strategic move enables both companies to sharpen focus on core competencies
BancTec, Inc. a global provider of advanced, high-volume document and payment processing services and solutions, today announced that it has reached an agreement to sell its Information Technology Service Management (ITSM) division to QualxServ, LLC a leading provider of technology deployment and field delivered support services.
The sale allows BancTec to sharpen its strategic focus around building a world-class business process outsourcing (BPO) practice, as well as to expand its business solutions offerings. Acquiring ITSM provides QualxServ with a large installed base of customers, as well as the benefits of increased scale and operating efficiency.
Over the past year we have communicated that our core strategy at BancTec is to build a global BPO practice and extend our industry-leading business solutions, said J. Coley Clark, BancTec chairman and chief executive officer. With BancTec's increasing focus on BPO and related business solutions, the time is right for our ITSM division to join a company with an equal focus on delivering outstanding IT services.
Acquiring BancTec's ITSM division provides QualxServ with a large international footprint, an installed base of quality customers, and the benefits of increased scale and operating efficiency in the US. said Bob Lerner, QualxServ president and chief executive officer. The acquisition is a natural fit. In this very competitive industry landscape, QualxServ will be a larger, stronger, international player with increased capabilities.
Our ITSM division is being acquired by an industry leader with the resources and vision necessary to take full advantage of our core strengths, said Brendan P. Keegan, BancTec senior vice president and president of the ITSM division. We are excited about the opportunities this acquisition presents for both our clients and our employees. Our commitment to industry leading service, upon which we were founded 16 years ago, will remain our hallmark well into the future.
The ITSM division provides comprehensive deployment and maintenance services on computers, servers, printers, peripherals and networks for original equipment manufacturers (OEMs) and information technology outsourcing (ITO) service providers in North America and Europe.
About BancTec
BancTec helps clients around the world simplify the process of managing their information. Founded in 1972, the company provides a wide range of solutions for automating complex, high-volume and data-intensive business processes for clients in the financial services, healthcare, manufacturing, government, services and utilities industries. BancTec's offerings include business solutions, business process outsourcing, and infrastructure services. With headquarters in Dallas, BancTec serves clients in 50 countries. For more information on how BancTec can help you optimize information management, visit http://www.banctec.com or call 1-800-BANCTEC.
About QualxServ
Headquartered approximately 25 miles northwest of Boston in Tewksbury, Massachusetts, QualxServ operates as a privately held services company employing over 2000 employees throughout the Continental United States and Canada. Their service offerings are in the areas of Maintenance and Deployment Solutions, Field Maintenance Services, Technology Deployment Services and Consumer Electronics Services.
QualxServ delivers deployment and maintenance services exclusively to major OEMs, IT, Warranty service providers and Federal contractors. With an infrastructure equipped with leading edge service delivery systems and tools, QualxServ provides a unique value proposition for organizations wishing to augment or outsource their service capabilities rapidly and cost effectively.
Forward-Looking Statements
All statements in this press release that do not directly and exclusively relate to historical facts are forward-looking statements describing BancTec's objectives, targets, plans, strategies, costs, anticipated capital expenditures and expected cost savings. These statements represent BancTec's intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside the Company's control. These factors could cause actual results to differ materially from such forward-looking statements. For a written description of these factors, see the section titled Risk Factors in the Company's Registration Statement on Form S-1, as amended, initially filed with the Securities and Exchange Commission on August 8, 2007. The Company disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent events or otherwise except as required by law.
Chuck Corbin of BancTec, Inc., +1-972-821-4970, chuck.corbin@banctec.com; or Norm Lombardi of QualxServ, +1-978-848-9106, norm.lombardi@qualxserv.net
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