BPO Management Services (BPOMS), a business process outsourcing company serving middle-market enterprises, has sold its Canadian subsidiary, BPO Management Services, to CriticalControl Solutions. Canada-based CriticalControl provides strategies, tools and outsourced products to manage clients business information.
The company said that the sale of its Canadian subsidiary included a cash payment of C$100,000. In addition, the Canadian subsidiary, with the backing of the buyer, will continue to be responsible for its liabilities, which currently total about C$4.7m.
The company also said that it will present the Canadian financial results as discontinued operations for the period ending June 30, 2009. The transaction is said to be closed on July 31, 2009.
In 2005, the Canadian operations were formed when BPOMS acquired two Winnipeg, Manitoba firms – ADAPSYS Document Management and Deines Imaging. In 2006, it acquired NOVUS Imaging Solutions of the same region to join ECM business unit and in 2007 it Acquired DocuCom Imaging Solutions of Concord, Ontario to join ECM business unit.
Content from our partners
Patrick Dolan, chief executive officer of BPOMS, said: Disposing of our Canadian operations is indicative of our decision to focus on our core strengths in information technology outsourcing and our managed services offerings for healthcare benefits administration, finance and accounting, and human resources.
“We believe that our growth opportunities in these areas are the keys for putting BPOMS on the right track for growth and profitability. Accordingly, we have organized our management team and internal operations around supporting these businesses, and are looking to each of them for growth in the coming years.
