SourceHOV Completes Acquisition of Transcentra and Reinforces its Global Transaction Processing Solutions Footprint

 

SourceHOV, LLC (“SourceHOV) announced today the completion of its acquisition of TransCentra, Inc. (“TransCentra”), headquartered in Norcross, GA.

The acquisition comes less than two years after the merger of SourceHOV with BancTec, Inc., and just over a year since SourceHOV’s initial investment into TransCentra, in July 2015. The strategic move increases the combined company’s footprint in remittance transaction processing and presentment space and expands its mobile banking offering while enabling TransCentra to leverage SourceHOV’s global presence to capture further revenue streams.

Jim Reynolds, Partner and COO at HandsOn Global Management, LLC, the global buyout fund controlling SourceHOV, and Ron Cogburn, CEO of SourceHOV, commented, “we are excited for TransCentra to join SourceHOV and firmly believe in the value that will be created based on expanded customer base, and cross selling opportunities not just in the U.S. but across the globe.”