LONDON, July 9, 2008 - BancTec, a global provider of complex business process automation solutions, has extended the reach of its BPO offerings through a new, ten-year agreement with EDB, one of the largest providers of IT services in the Nordic region. The BPO partnership agreement, worth more than $52 Million, includes the outsourcing of EDB’s Document Imaging and Processing business to BancTec Sweden.
“BancTec has rapidly built its BPO practice throughout Europe, with particular expertise in providing document processing services,” said Michael D Peplow, President, EMEA, BancTec. “The combination of EDB and BancTec provides a comprehensive portfolio of document input and output services to some of the largest and most demanding companies in the Nordic region. We look forward to working with EDB and supplementing their core IT and Consultancy practice with document processing services that will process more than 12 million documents per year.”
EDB Value Added Services is a part of the IT operations business unit. For more than 40 years, EDB has delivered solutions covering the entire range of business-critical IT services, from application services and industry-specific solutions to IT operations and networking. In 2007, EDB generated revenues in excess of $1.25 Billion.
The agreement takes effect July 1st, 2008, at which point approximately 50 EDB employees will transfer to, and begin providing services under, the BancTec banner. “We very much look forward to working with our new staff to make the processing centre in Stockholm one of the most innovative and productive operations within BancTec,” said Peplow.
EDB sales will begin marketing the new BancTec BPO services to current customers and prospects, focusing on how the partnership with BancTec significantly enhances the depth and quality of its Value Added Services portfolio with innovative solutions that improve productivity and lower costs. In addition to reducing its own production overhead, the agreement with BancTec will also enable EDB to focus on its core competencies in IT services and consulting.
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.
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