Transworld acquires Altisource Financial Services
Global outsourcing services provider Transworld Systems Inc (TSI) has acquired Altisource Financial Services, a subsidiary of Altisource Portfolio Solutions, for USD44m. The acquisition includes Nationwide Credit Inc., a provider of collections, customer relationship management, and call center outsourcing services. It has about 2,300 employees and operations centers in the US, India, and the Philippines. In a statement, TSI said the acquisition broadens its customer base and expands its offerings into customer relationship management. It also expands TSI’s global operations to now include India and the Philippines. Based in the US, TSI provides accounts receivable management, as well as healthcare revenue cycle and loan servicing solutions. Its clients include Fortune 100 corporations, hospitals, financial institutions, governmental organizations, and small businesses. Subject to customary closing conditions, the acquisition is expected to close before the end of the third quarter, according to TSI.
