Transworld Systems has agreed to purchase the financial services business of Altisource Portfolio Solutions for $44 million.
The transaction includes Nationwide Credit, Inc., a collection agency with more than 2,300 employees nationwide. It provides collections, customer relationship management, and call center outsourcing for companies in the financial, retail credit, mortgage servicing, insurance, utility, and hospitality industries.
“The acquisition of the Altisource Financial Services business broadens TSI’s customer base, expands our offerings into customer relationship management, and grows our global operations in India and the Philippines,” said Transworld Chief Executive Officer Joseph Laughlin. “This carve out is a perfect example of our strategy to leverage acquisitions to add new technological capabilities while improving scale in our core businesses. We look forward to partnering with the Altisource management team to affect a smooth transition and we welcome the Altisource Financial Services customers and employees to the TSI family.”
Altisource’s financial services business includes call centers, accounts receivable management, and mortgage charge-off collection services companies in the financial services, insurance, hospitality, utility, and credit industries.
Transworld provides outsourced accounts receivable management, healthcare revenue cycle management, and loan servicing solutions.
