News: Documetric begins trading as Parseq

Rotherham business process outsourcing (BPO) provider, Documetric has begun trading on the AIM market of the London Stock Exchange under the new name of Parseq plc.

The move is part of a successful reverse takeover by Rami Cassis and Documetric who earlier this month secured a controlling interest in Intelligent Environments Group plc (IE), a provider of online software products for the finance sector.

Parseq plc is a new group that focus on technology-led outsourcing, combining IE's market-leading digital banking system, NetFinance and its mobile banking platform, IE Mobile, with the payment BPO, information management, contact centre support and hosting services of Documetric's Hellaby facility.

Combined client base includes Orange, Vodafone, British Energy, Deutsche Bank, RBS, Lloyds, Barclays, HSBC, Halifax, Shell, Thomas Cook, Argos, Homebase, Sainsbury's, John Lewis, BHS and the Hilton Group.

Rami Cassis, Parseq's Chief Executive Officer, said: "We can now provide our clients with a complete mobile and online banking solution which is supported by a comprehensive Business Process Outsourcing (BPO) service across multiple channels.

"This integrated approach should deliver improved service levels and greater efficiencies across our entire client base which will drive Parseq's growth.

"Recent mobile contract wins with First Data, Generali and LaSer in addition to new BPO wins with RBS illustrate the demand for our solutions and, now that they are combined, provide clients with an end-to-end turnkey solution. We are very now well positioned to capitalise on the significant growth forecasted within our core markets."

On admission to the stock exchange, the company has 437,307,377 ordinary shares in issue and a market capitalization of approximately £30.6 million based on the placing price of 7 pence per share.

Documetric website

Images: documetric.com