Parsippany, NJ-based Creditek specializes in order to cash services, which includes invoicing, collections, and other accounts-receivable processes. It has about 300 employees and 50 clients, with a particular focus on the healthcare vertical. In full-year 2004, the privately held company made revenue of $20.4m.
The FAO sector is beginning to consolidate, and the announcement follows IBM’s acquisition of Equitant in February, and last month’s purchase of Deloitte’s FAO unit by Convergys.
Gecis has 17,000 employees based mainly in India, with additional service delivery centers in China, Hungary, and Mexico. It provides a host of IT and BPO services including analytics, finance and accounting, and customer services. The purchase is its first since its parent company sold a 60% stake to private equity firms General Atlantic Partners and Oak Hill Capital Partners for $500m, which was the largest ever Indian BPO deal.
