ITSM Division Changes HandsBancTec closes sale of ITSM division to QualxServ.
BancTec, Inc. a global provider of advanced, high-volume, document and payment processing services and solutions, closed today on the sale of its Information Technology Service Management (ITSM) division to QualxServ.
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
The sale of the division provides BancTec the opportunity to commit additional resources to its business process outsourcing (BPO) practice and business solutions offerings. With the acquisition of ITSM, QualxServwhich is one of the largest providers of technology deployment and field delivered support servicesgains a bigger customer base, as well as increased scale and operating efficiency.
"We are excited that this transaction is now closed and that both BancTec and QualxServ stand to realize significant benefits," said J. Coley Clark, BancTec chairman and CEO, in a press release. "QualxServ gains an outstanding team of professionals dedicated to delivering superior IT services, while BancTec achieves additional flexibility to sharpen its focus on BPO and related business solutions. We appreciate the efforts of everybody who helped in the closing of this transaction."
Friedman, Billings, Ramsey & Co. served as BancTecs financial advisor for the divestiture, while Weil, Gotshal & Manges LLP provided legal counsel.
Headquartered approximately 25 miles northwest of
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.