Transworld Systems Inc. Agrees to Acquire Altisource Portfolio Solutions S.A.'s Financial Services Business
LAKE FOREST, Ill., March 29, 2019 /PRNewswire/ -- Transworld Systems Inc. ("TSI" or the "Company") – the leading anal...
LAKE FOREST, Ill., March 29, 2019 /PRNewswire/ — Transworld Systems Inc. (“TSI” or the “Company”) – the leading analytics-driven provider of accounts receivable management, healthcare revenue cycle and loan servicing solutions – announced today it has entered into a definitive agreement with subsidiaries of Altisource Portfolio Solutions S.A. to purchase its Financial Services business for $44 million.
TSI will acquire the Altisource Financial Services business, including Nationwide Credit, Inc. (NCI), a provider of collections, customer relationship management and call center outsourcing for financial, retail credit, mortgage servicing, insurance, utility, and hospitality industries, with approximately 2,300 employees and operations centers in the United States, India, and the Philippines.
“The acquisition of the Altisource Financial Services business broadens TSI’s customer base, expands our offerings into customer relationship management, and grows our global operations in India and the Philippines. This carve out is a perfect example of our strategy to leverage acquisitions to add new technological capabilities while improving scale in our core businesses. We look forward to partnering with the Altisource management team to affect a smooth transition and we welcome the Altisource Financial Services customers and employees to the TSI family,” said Chief Executive Officer Joseph Laughlin.
The acquisition is expected to close before the end of the third quarter of 2019 and is subject to customary closing conditions including regulatory consents.
Click here to read the official press release.