Friday, April 4, 2014

HandsOn3 Buys BancTec

Santa Monica-based buyout fund HandsOn3 said Thursday that it has acquired BancTec, a business process outsourcing (BPO) company based in Dallas, Texas. Financial terms of the buy were not disclosed. According to HandsOn3, it will combine BancTec with its existing portfolio company, Dataforce Group, creating a combined company with annual revenues of over $280M. HandsOn3 said the combined cmpany will have over 4,000 employees across 30 offices. HandsOn3 said it invests in business process services, big data mining, and industrial services.