Earlier this week, PayStream partner, BancTec, announced their merger with SourceHOV, a provider of Transaction Processing Solutions (“TPS”). The merger will bring the corporations accelerated growth and leveraging ability for their technology platforms and service offerings. Both companies are headquartered in Dallas, Texas, and the combined company is projected to have annual revenues in excess of $900mm.

This merger will create a powerhouse leader in Transaction Processing Solutions. SourceHOV is one of the largest TPS companies in the industry, serving more than half of the Fortune 100; they specialize in providing document centric applications to many different industries including Healthcare Payer and Provider, Finance and Banking, Public Sector, and specialized consulting services for construction management, tax benefits, legal claims settlements and economic consultancy. BancTec provides transaction processing solutions to many of the world’s largest commercial banks governments, insurance companies, and other large organizations.

BancTec operates 35 delivery centers worldwide and their clients are located in 50 countries. SourceHOV’s global workforce boasts more than 12,000 employees operating in over 80 delivery centers throughout the U.S., Mexico, Canada, India, China, and the Philippines. The combined global presence this merger will bring is perhaps its most dynamic factor—not only will the two companies be able to expand their value as they widen their business operations, but they will also provide their broad customer base with more enhanced business processing technology.

“SourceHOV’s deep domain expertise in Healthcare and Legal claims processing, alongside BancTec’s 40+ years of banking payment processing know-how, enables the creation of a global powerhouse provider for TPS with seamless expansion into new geographies,” said Ron Cogburn, Chief Executive Officer of SourceHOV and Mark Fairchild, President of BancTec in a joint statement. “By leveraging its global presence, the combined company is well positioned to support the growth requirements of both new and existing customers.”

PayStream values business moves like this one that work to grow P2P possibilities in the global arena. Look out for the 2014 Global eInvoicing Report this Q4 to gain more insight into how today’s P2P Innovators operate to create efficient B2B activity worldwide.