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BancTec Acquires Beta Systems ECM Solutions GmbH
Jun 03, 2010 (01:06 PM EDT)
Acquisition extends reach into financial services throughout Germany, Eastern Europe and emerging markets; enhances document and payment processing solutions portfolio.
DALLAS, June 3 /PRNewswire/ -- BancTec, Inc., a global provider of advanced, high-volume, document and payment processing solutions and services, has acquired Beta Systems ECM Solutions GmbH, a subsidiary of Berlin-based Beta Systems Software AG. Beta Systems ECM Solutions, with its highly scalable solutions for incoming mail, document and payment transactions, is one of Europe's leading enterprise content management (ECM) providers for financial services. With this transaction, Beta Systems sells its complete ECM line of business, which has its origins in the former Kleindienst Solutions portfolio.
This acquisition enables BancTec to significantly enhance its client base in banking, insurance and financial services in Germany, and strengthens its portfolio of document and payment processing solutions and services for these industries. In addition to providing a significant increase in BancTec's German revenue base, the acquisition will also open new opportunities for the company throughout Eastern Europe and other emerging markets. Customers will benefit as the capabilities of two leading companies are combined to provide even greater improvement in their document and payment processes. This transaction ensures that some of the most robust and sophisticated document and payment processing solutions for the financial industry will now be available from one provider in Germany, Eastern Europe and other emerging markets.
Coley Clark, chairman and chief executive officer of BancTec, commented on the acquisition: "Beta Systems ECM Solutions has a decades-long history of providing some of the most advanced, scalable, document and payment processing solutions and services to the financial services market. In addition, they have a highly skilled group of employees with tremendous, industry-focused intellectual capital. We believe that these resources, in combination with those already existing at BancTec, will enable us to provide an even stronger portfolio of solutions and services to some of the largest and most complex financial institutions in the world. We look forward to integrating Beta Systems ECM Solutions into the BancTec family."
"For Beta Systems, this step means that we will be able to concentrate on our core competence as a pure infrastructure software provider in the future. In many respects, it was expedient for both companies, and we are happy to put our business relations to our ECM customers in the EMEA region in the hands of such an experienced partner as BancTec," commented Gernot Sagl, member of the Management Board of Beta Systems Software AG. He added, "What made our decision even easier was the power inherent in the sales and technological strength in the international document management market and BancTec's high standing with banks and insurance companies in Western and Eastern Europe and America. An absolute plus point was the already successfully implemented entry into the market with business process outsourcing services which is where we were just at the beginning of our efforts."
Beta Systems ECM Solutions' product portfolio includes the well-regarded FrontCollect® suite of solutions for processing forms, payments and other incoming paper-based or electronic documents and communications. The core business of the ECM solutions segment consists of IT solutions and services through to end-to-end systems (including hardware such as Kleindienst scanners and sorters) in connection with the FrontCollect® Payment and Mailroom product lines. Along with the processing of payment documentation, these solutions address the automation of general incoming mail and documents of large banking institutions and insurance companies in Central, Eastern Europe and Africa.
About Beta Systems ECM Solutions GmbH:
Beta Systems ECM Solutions GmbH, previously business line ECM Solutions, became a one hundred percent subsidiary of Beta Systems Software AG in January 2010, and as a member of the Beta Systems Group assumed the further independent development, marketing, and customer and supplier management of products and services in the field of document input processing. Beta Systems ECM Solutions GmbH with its focus on large-scale projects, i.e. as solution provider in the banking and insurance environment, is the largest provider in the market segment of document processing at the European level.
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. BancTec's offerings include business solutions, business process outsourcing, and infrastructure services. With headquarters in Dallas, BancTec serves clients in 50 countries. For more information on how BancTec can help you optimize information management, visit www.banctec.co.uk or call +44 (0)1753 778888.
All statements in this press release that do not directly and exclusively relate to historical facts are "forward-looking statements" describing BancTec's objectives, targets, plans, strategies, costs, anticipated capital expenditures and expected cost savings. These statements represent BancTec's intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside the Company's control. These factors could cause actual results to differ materially from such forward-looking statements. For a written description of these factors, see the section titled "Risk Factors" in the Company's Registration Statement on Form S-1, as amended, initially filed with the Securities and Exchange Commission on August 8, 2007. The Company disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent events or otherwise except as required by law.
SOURCE BancTec, Inc.