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BancTec Closes Sale of Information Technology Service Management (ITSM) Division to QualxServ

Posted on: Thursday, 15 January 2009, 11:30 CST

DALLAS, Jan. 15 /PRNewswire/ -- BancTec, Inc. a global provider of advanced, high-volume, document and payment processing services and solutions, closed today on the sale of its Information Technology Service Management (ITSM) division to QualxServ, LLC.

ITSM provides comprehensive deployment and maintenance services on computers, servers, printers, peripherals and networks for original equipment manufacturers (OEMs) and information technology outsourcing (ITO) service providers in North America and Europe. The sale of the division provides BancTec the opportunity to commit additional resources to its business process outsourcing (BPO) practice and business solutions offerings. With the acquisition of ITSM, QualxServ--which is one of the largest providers of technology deployment and field delivered support services--gains a bigger customer base, as well as increased scale and operating efficiency.

"We are excited that this transaction is now closed and that both BancTec and QualxServ stand to realize significant benefits," said J. Coley Clark, BancTec chairman and chief executive officer. "QualxServ gains an outstanding team of professionals dedicated to delivering superior IT services, while BancTec achieves additional flexibility to sharpen its focus on BPO and related business solutions. We appreciate the efforts of everybody who helped in the closing of this transaction."

Friedman, Billings, Ramsey & Co., Inc. served as BancTec's financial advisor for the divestiture, while Weil, Gotshal & Manges LLP provided legal counsel.

About QualxServ

Headquartered approximately 25 miles northwest of Boston in Tewksbury, Massachusetts, QualxServ operates as a privately held services company employing over 2000 employees throughout the Continental United States and Canada. Their service offerings are in the areas of Maintenance and Deployment Solutions, Field Maintenance Services, Technology Deployment Services and Consumer Electronics Services.

QualxServ delivers deployment and maintenance services exclusively to major OEMs, IT, Warranty service providers and Federal contractors. With an infrastructure equipped with leading edge service delivery systems and tools, QualxServ provides a unique value proposition for organizations wishing to augment or outsource their service capabilities rapidly and cost effectively.

About BancTec

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.com or call 1-800-BANCTEC.

Forward-Looking Statements

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.

SOURCE BancTec, Inc.

Source: PR Newswire

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