Vertex Closes in on Purchase Agreement For Alliance Data's Utility Services Business
Portfolio Company News - July 29, 2008
Vertex, a global outsourcing and IT services firm, today announced the completion of the transaction with Alliance Data Systems Corporation to acquire its Utility Services business. Alliance Data's Utility Services provides billing systems, professional services and process outsourcing to utilities in the U.S. and Canada. The agreement was originally announced on July 14th, 2008.
Vertex, a global outsourcing and IT services firm, today announced the completion of the transaction with Alliance Data Systems Corporation to acquire its Utility Services business. Alliance Data's Utility Services provides billing systems, professional services and process outsourcing to utilities in the U.S. and Canada. The agreement was originally announced on July 14th, 2008.
Richard Charles, Alliance Data Utility Services SVP of Client Development, said, "We are very excited to be a part of Vertex, an organization that views the utility sector and customer management services as its core business. Vertex is a fantastic home for the more than one thousand Utility Services associates, and we look forward to working together to serve our clients even more effectively in these rapidly changing times."
John Hall, Vertex's Managing Director of Utilities, commented, "We are energized and excited to have the Alliance Data's Utility Services team onboard and welcome them to the Vertex family. This transaction creates an opportunity for us to not only expand the client base we serve, but to leverage the best practices of both organizations to build an innovative and differentiated value proposition for our clients."
About Vertex
Vertex was founded in 1996 as a subsidiary of British utilities provider, United Utilities Plc. The company has grown to offer transformational outsourcing and information technology services capabilities to help clients build profitable, long-term relationships with their customers. Vertex currently employs 9,000 people in the UK, US, Canada and India serving clients in utilities, financial services, retail, telecommunications, travel and the public sector.