Thursday, 29 September 2005 10:00

Admerex sets up in US with acquisition

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Back office financials provider Admerex Limited (ASX:ADL) has commenced its push into the tough US credit management market with the acquisition of Atlanta based CollectionWorks Inc.

The acquisition includes client contracts, human resources and all intellectual property.

Chairman of Admerex, Kim Goodall said the acquisition gives the company a significant presence in the large United States market and a complementary collections system that integrates with the existing Admerex CWX solution.

"The new business strengthens the company's growing line of credit management, receivables management and payment solutions, and gives Admerex a sound installed client base in a strong market as a foundation for growth both inside and outside the US," Goodall said.

The acquired software facilitates the collections process for debt collection and recovery agencies, and complements the other Admerex CWX modules which manage the collections and receivables process for first party credit grantors. The software is currently licensed to 43 clients in the United States comprising a mix of both large and small organisations including;

*     Georgia Power Company
*     ITC DeltaCom
*     Michigan State University
*     Mid America Insurance Services

Goodall said Admerex has already completed its first installation of the new Admerex CWX module in a collection agency in Singapore.

The US operations will be conducted through a new subsidiary company, Admerex Inc, managed by Enrique O'Reilly.


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Stan Beer

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Stan Beer co-founded iTWire in 2005. With 35 plus years of experience working in IT and Australian technology media, Beer has published articles in most of the IT publications that have mattered, including the AFR, The Australian, SMH, The Age, as well as a multitude of trade publications.

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