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

16 January 2009

BBancTec, 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.

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