News From The Receivable Management Services Corporation (RMS)
RMS Signs Definitive Agreement to Merge With iQor
November 1, 2010
RMS, a leader in business-to-business accounts receivable management outsourcing, today announced that it has signed a definitive agreement to merge with iQor Holdings, Inc., a global provider of business process outsourcing (BPO) services. In conjunction with the merger, Citi Venture Capital International (CVCI) has made a substantial investment in iQor. Huntsman Gay Global Capital, which last month announced it had made a majority investment in iQor, is making an additional investment in the combined company, and Guggenheim Partners provided debt financing for the transaction. The terms of both transactions were not disclosed.
RMS, based in Bethlehem, PA, was spun off from Dun & Bradstreet in 2001 and is one of the largest commercial accounts receivables management (ARM) companies in the world. RMS has 3,000 employees located around the globe, including in the U.S., Canada, Hong Kong, India and Mexico.
“Over the last nine years we have expanded our global footprint, built up a world class client base, and have gained a reputation as the leading accounts receivable outsourcer in the commercial market,” said Mike Baldwin, President and CEO of RMS. “We’re excited about joining the iQor team. Vikas Kapoor and the rest of iQor management have done a tremendous job building a highly efficient and flexible technology platform. Together, we form the premier Order to Cash BPO company in the world.”
RMS has a blue-chip commercial client base that complements and extends iQor’s client profile in key verticals, including Transportation, Insurance, and Telecom. The acquisition will also expand iQor’s global footprint in Asia and into Latin America, allowing clients to take advantage of a broader set of skills and labor markets across the world.
About RMS
The Receivable Management Services Corp. (RMS), headquartered in Bethlehem Pennsylvania, provides working capital optimization through Business Process Outsourcing (BPO) and Recovery Services worldwide. RMS (www.rms-iqor.com) furnishes outsourcing capabilities in areas encompassing the entire order-to-cash cycle complimented by additional services such as customer contact and data entry. Recovery Services range from traditional collections up through legal litigation and bankruptcy services. RMS is a proud team member of iQor (www.iqor.com); providing business process outsourcing to companies worldwide.
About iQor
iQor provides business process outsourcing to some of the best-known companies in the world from 21 Centers of Excellence in five countries. iQor’s 11,000 employees work with state-of-the-art technology that affords maximum flexibility to iQor customers to tap the best skills of a global workforce. It serves clients from a range of industries including financial services, telecommunications and government. Its services include customer care, customer retention and revenue recovery.
RMS is licensed and/or bonded to do business in every city, state, province, and international location as required by law.
