Oriel to acquire Value Chain International

Stan Beer
Wednesday, 20 September 2006 18:58

IT Industry - Strategy

Commenting on the deal, Oriel’s Chairman Stephen Lucas said: "This is the coming together of two strong businesses with unique offerings. Oriel’s BilltoBill Internet payment systems combined with Value Chain’s exceptional service delivery and information management processes will take Oriel into a new league in terms of service delivery and process implementation for our respective clients.

"The deal also provides BilltoBill with an opportunity to expand its services and more importantly establishes a framework for Oriel to reach substantial and sustainable profitability within a relatively short space of time. I am confident that this will be a "win" "win" for shareholders from this investment.”

Value Chain CEO, Ananda Rao, said: "The Board of Value Chain is excited about the prospects for the newly merged business. This transaction will create a much larger company with greater scale and complementary products that we can incorporate into our industry specific solutions. Furthermore, the strengthened breadth of operations will also present new growth opportunities for Value Chain, including expansion into China – a market where Oriel has already built an established network of blue chip clients.”