September 28, 2016
SourceHOV Completes Acquisition of TransCentra and Reinforces its Global Transaction Processing Solutions Footprint
Irving, Texas – September 28, 2016 – SourceHOV, LLC ("SourceHOV"), a global Transaction Processing Solutions ("TPS") and Enterprise Information Management ("EIM") leader announced today the completion of its acquisition of TransCentra, Inc. ("TransCentra"), a leading provider of billing, payment and software services, headquartered in Norcross, GA.
The acquisition comes less than two years after the merger of SourceHOV with BancTec, Inc., and just over a year since SourceHOV's initial investment into TransCentra, in July 2015. The strategic move increases the combined company's footprint in remittance transaction processing and presentment space and expands its mobile banking offering while enabling TransCentra to leverage SourceHOV's global presence to capture further revenue streams.
Jim Reynolds, Partner and COO at HandsOn Global Management, LLC, the global buyout fund controlling SourceHOV, and Ron Cogburn, CEO of SourceHOV, commented, "we are excited for TransCentra to join SourceHOV and firmly believe in the value that will be created based on expanded customer base, and cross selling opportunities not just in the U.S. but across the globe."
TransCentra is an established provider of integrated outsourced billing, remittance processing and imaging software and consulting services. TransCentra serves approximately 300 clients, primarily in the financial service, insurance, utilities, healthcare and telecom industries. TransCentra delivers 300 million bills, processes 525 million remittances and over 1.5 billion transactions per year. The company has 13 locations across the United States and approximately 1,400 employees. For more information, please visit the TransCentra website at www.transcentra.com
SourceHOV is a global TPS and EIM leader providing services and solutions for high-volume, mission-critical processes to more than 3,000 customers across 50 countries, including majority of the Fortune100. SourceHOV comprises 15,000 employees and operates over 110 delivery centers across the Americas, EMEA and APAC, offering scalable technology platforms, hosted on-premise and/or in a cloud environment, to a wide range of industries including financial services, healthcare, public sector, insurance, and legal. For more information please visit www.sourcehov.com.