TRAKAmerica acquires KnovaOne, expands global legal recovery services
FLORIDA, UNITED STATES — TRAKAmerica (Data Search NY Inc.) has announced the acquisition of KnovaOne, a business process outsourcing (BPO) company specializing in legal and accounts receivable management.
This strategic move is set to bolster TRAKAmerica’s service offerings, solidifying its standing in the legal portfolio management, legal process outsourcing, and collateral recovery management sectors.
Strengthening global presence
KnovaOne, founded in 2012 and headquartered in Pune, India, has a workforce of over 350 employees. Its expertise spans various sectors, including mortgage operations, default management, and collections.
By acquiring KnovaOne for an undisclosed amount, TRAKAmerica aims to provide a more comprehensive and integrated approach to portfolio management, catering to clients and service providers facing cost challenges and capacity constraints.
As we embark on this new chapter, we are committed to a smooth transition and seamless integration. Thank you to our incredible #team and #clients for your continued support.#acquisition #expansion #innovation #partnership #growth #legalprocessmanagement #futureready #legal pic.twitter.com/sdkxfA3JCU
— KnovaOne (@knovaone) June 27, 2024
“We are thrilled to welcome Neeraj and the KnovaOne team to TRAKAmerica,” said Vincent Iacono, CEO of Data Search NY Inc.
“This acquisition represents a significant milestone for us as we expand our global capabilities and continue our position as a trusted partner for our clients and service providers. We see a clear and accelerated path to significant growth in the near-term, while continuing to deliver exceptional value and results to our stakeholders.”
KnovaOne to enhance TRAKAMerica’s service offerings
The integration of KnovaOne’s technology and expertise is expected to enhance TRAKAmerica’s efficiency and service delivery capabilities.
Neeraj Mendiratta, President of KnovaOne, expressed enthusiasm about the merger, stating, “We’re excited to join the TRAKAmerica family, drawn by their long-standing success and exceptional leadership in the account recovery industry.”
“We believe this union will accelerate KnovaOne’s growth by expanding its client base, adding diverse market segments and strengthening existing client relationships through innovative legal process outsourcing solutions.”
For KnovaOne, the acquisition presents an opportunity to expand its reach and capabilities.
The company will continue to operate under its own brand, serving its existing client base without disruption. However, it will now have the backing of TRAKAmerica’s resources and industry connections, potentially opening doors to new markets and clients.
As the BPO industry continues to evolve, this acquisition positions both TRAKAmerica and KnovaOne to capitalize on emerging opportunities and address the growing demand for innovative, efficient, and compliant solutions in legal recovery and accounts receivable management.
