Friday, May 30, 2014

News: Parseq targets £100m turnover

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Rotherham-headquartered business process and technology specialist, Parseq, has acquired Sunderland-based 2Touch, a major contact centre and fulfilment business, as part of its strategy to create a business with a £100m turnover in three years.

Based at Hellaby, Parseq specialises in mobile and online banking software and technology-led outsourcing services. It has bought 2Touch from US-based Acxiom for an undisclosed sum and adds a complementary 1,000 seat call centre and back office fulfilment operation to Parseq's existing back office, call centre and fundraising services.

2Touch manage over 15 million calls and 5 million emails each year for some of the UK's biggest brands. It also operates back office processing services and warehousing, storage and fulfilment space.

Derwyn Jones, chief executive at Parseq, said: "2Touch is a cultural and operational fit for Parseq which gives us the scale and geographical coverage to attract new clients and deepen our relationship with existing clients.

"2Touch's established client service ethos and great reputation links closely to the Parseq business model and together provides us with a strong sector footprint particularly in utilities, financial services and insurance providers.

"We are delighted to be bringing together two industry leading businesses with the people, processes and operational capabilities to enhance our proposition as the only mid-sized corporate providing end to end outsourcing services combining front office, back office and IT."

The combined organisation will employ around 2,700 people working from five key sites in Sunderland, Glasgow, Rotherham, London and Brighton and have a turnover of around £65m. Parseq beleives that the additional operational site will enhance its business continuity proposition.

Derwyn Jones has previously stated that the target for Parseq in 2015 is 45 per cent growth in profit.

Parseq was created via a successful reverse takeover by Rami Cassis and Rotherham-based BPO provider, Documetric in 2010. The £33m management buy out was led by Cassis, together with Nova Capital and funds managed by HarbourVest Partners, LLC.

The firm processes over 75,000 items of correspondence a day and the Hellaby facility provides BACS electronic fund transfers, remittance processing and voucher processing services to a number of high street banks and is also home to a 12,000 sq ft data centre that opened in 2011.

In 2013, Parseq made its first acquisition - The Panther Group (TPG), a UK-based contact centre services company.

Parseq website

Images: 2Touch

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