ARM Firm CCH Increases Global Footprint with Astra Acquisition

Jacksonville, FL: Central Credit Holdings, Inc. (CCH), parent company of Central Credit Services (CCS www.ccscollect.com), an accounts receivable management solutions provider headquartered in Jacksonville, FL, has announced the acquisition of Astra Business Services (Astra www.astraglobal.com).  The transaction closed on June 11, 2009.

As a result of this transaction, Astra will operate as a wholly owned subsidiary of CCH.  Astra currently employs more than 200 people in two operations centers comprising 30,000 square feet located in Gurgaon and Dehradun, India.  Gurgaon is a satellite city of Dehli and a part of the National Capital Region of India, only six miles from Indira Gandhi International Airport. Dehradun is the capital city of Uttarakhand, just north of the capital.  The firm focuses on implementing best practices from those commonly identified with leading U.S. call centers.  This includes investments in technology, compliance, licensing, and physical and data security measures that rival Astra’s American counterparts.

Sierra Ventures (www.sierraventures.com), a leading venture capital company based in Menlo Park, California, with three decades of experience, more than 200 successful companies, and $1.5 billion invested, partnered with CCH to facilitate this transaction.    Founder and managing director Peter Wendell stated, “This transaction gives Astra a stronger U.S. portal, including a dynamic executive management team, which will enable the company to drive to the next level in this space.”

Commenting on the announcement, James J. (Jim) Eccleston, President and Chief Executive Officer of CCS and CCH, noted, “With the acquisition of Astra, we have broadened our capabilities to match our vision for the future,” he said, adding, “I am pleased to bring a company with such depth of capabilities under the CCH umbrella.”

Financial terms of the transaction were not disclosed.

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