WNS (Holdings) Limited, a business process outsourcing company, reported that it has acquired Call 24/7 Ltd., an auto insurance claims processing services provider in the United Kingdom.
WNS has acquired all shares of Chang Limited, the Stockport, Cheshire-based holding company in which Call 24/7 is the key operating entity. Under the terms of the deal, total consideration for the acquisition consists of approximately £8.0 million ($16.0 million) paid in cash at the deal’s completion and a contingent earn-out of up to approximately £1.6 million ($3.2 million) to be determined for the fiscal year ending March 31, 2009 that will be paid in cash during fiscal 2009.
WNS said it funded the cash payment made at the deal’s completion from existing cash and cash equivalents and expects to fund the earn-out payment also from existing cash and cash equivalents.
Call 24/7 offers back office insurance claims office services including first notification of loss, third-party claims handling, replacement vehicle provisioning, and repair management through a national network of approved body shops.
WNS said it will integrate Call 24/7 into WNS Assistance, a division of WNS Global Services Ltd. UK, and a subsidiary of WNS. The deal will enable WNS to extend its position in accident claims management in the U.K.
Sources: WNS
www.wnsgs.com
Call 24/7
Topics Mergers & Acquisitions Auto Claims
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