St. Louis, MO Outsourcing Solutions Inc. (“OSI”) announced that through a newly formed limited liability company, Pacific Software Consulting, LLC, it had acquired certain assets and assumed certain liabilities of the Pacific Software Consulting, Inc. (“PSC”). Terms of the purchase were not disclosed.
With the acquisition of PSC, OSI further expands its position as a business outsourcing firm. PSC, along with the previously acquired RWC Consulting Group, provides highly skilled consultants to a large group of bank clients. The services provided assist their clients in back office functions such as research and adjustment, reconcilement, charge-off recovery and other areas. The combination of OSI, PSC and RWC Consulting Group creates a company capable of offering services across a broader spectrum of the business outsourcing market, particularly within the banking industry. By providing these additional services, OSI will further enhance its client relationships.
PWC will become a business unit of OSI reporting to Michael Staed, Executive Vice President. Ed Lambert, who founded PSC, will continue as President of the unit. He has more than 20 years of experience in the banking industry.
According to Timothy G. Beffa, President and Chief Executive Officer of OSI, “PSC’s transaction processing environment fits with OSI’s initiatives to aggressively expand its business outsourcing services. We see numerous advantages – their business is compatible with our existing businesses, and they will provide OSI with a strong foothold in financial services transaction processing.”
This is the tenth acquisition by OSI since its formation in September 1995. OSI is the leading provider of receivables management services with a list of blue chip clients in the Healthcare, Bank Card/Financial, Telecom/Utilities, Government and Education industries. It provides large consumer and business-to-business credit grantors with comprehensive receivables management services, from credit usage and management to outsourcing of pre-charged-off receivables, to contingent collection of delinquent debts, to purchasing portfolios of charged-off debt. Headquartered in St. Louis, OSI has approximately 8,300 employees in 70 locations across 25 states plus Canada, Mexico and Puerto Rico. More information about OSI can be found by visiting http://www.osi.to.
Note: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, regarding OSI’s business strategy and future plans and projected results of operations. Forward-looking statements involve known and unknown risks and uncertainties, both general and specific to the matters discussed in this press release. These and other important factors, including those mentioned in various Securities and Exchange Commission filings made periodically by OSI, may cause OSI’s actual results and performance to differ materially from the future results and performance expressed in or implied by such forward-looking statements. The forward-looking statements contained in this press release speak only as of the date hereof and OSI expressly disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in OSI’s expectations or future events.
