BancTec, a global leader in business process outsourcing has entered into a definitive agreement to be acquired by one of HandsOn­­³ (“HandsOn”) affiliated funds, The Dataforce Group.  HandsOn is a global buyout manager based in Santa Monica, CA; this is consistent with their strategy of acquiring leading global BPO (Business Process Outsourcing) companies and transforming them into platform-enabled service providers that leverage globally positioned resources. In their press release announcing this agreement, HandsOn partner Jim Reynolds said, “This acquisition allows us to leverage our expertise and accomplishments by combining the strengths of Dataforce Group with BancTec to address the needs of our valued customers within our expanded marketplace.”

Dataforce Group is also a global provider of BPO services to enterprise level clients in the telecommunication, healthcare, charity, government, and auto and health insurance industries. Key services currently offered by Dataforce include AR Management, Document Receivables Management, and Customer Interaction Management. When combined with the key services offered by BancTec such AP Automation, Payment Processing, and others it is clear that these organizations will compliment each other well. Together they stand to offer a global BPO solution unlike any other on the market. PayStream Advisors is very excited to see what this acquisition will mean for both BancTec, Dataforce Group, and the BPO market.

The key leadership and management teams of BancTec will remain in place and play a vital role in the growth of the newly merged organization. Depending on the agreement of terms, closing conditions, and approval of stockholders, the transition should be complete by the end of April.