RMS, a specialist in business-to-business accounts receivable management outsourcing, has signed a definitive agreement to merge with iQor Holdings, Inc., a global provider of business process outsourcing (BPO) services.In conjunction with the merger, Citi Venture Capital International (CVCI) has made a substantial investment in iQor. Huntsman Gay Global Capital, which last month announced it had made a majority investment in iQor, is making an additional investment in the combined company, and Guggenheim Partners provided debt financing for the transaction.
RMS, based in Bethlehem, PA, was spun off from Dun & Bradstreet in 2001 and is one of the largest commercial accounts receivables management (ARM) companies in the world. RMS has 3,000 employees located around the globe, including in the U.S., Canada, Hong Kong, India and Mexico.
Over the last nine years we have expanded our global footprint, built up a world class client base, and have gained a reputation as the leading accounts receivable outsourcer in the commercial market,said Mike Baldwin, President and CEO of RMS. Were excited about joining the iQor team. Vikas Kapoor and the rest of iQor management have done a tremendous job building a highly efficient and flexible technology platform. Together, we form the premier Order to Cash BPO company in the world.
RMS has a blue-chip commercial client base that complements and extends iQors client profile in key verticals, including Transportation, Insurance, and Telecom. The acquisition will also expand iQors global footprint in Asia and into Latin America, allowing clients to take advantage of a broader set of skills and labor markets across the world