Integreon Managed Solutions, Inc., a global leader in complex knowledge process outsourcing, announced today that it has acquired Fargo, N.D.-based CBF Group, Inc., a business process outsourcing company exclusively focused on enterprise services to law firms.
Ayala Corporation, one of the leading conglomerates in the Philippines and Integreon’s majority shareholder, provided funding to finance the acquisition and future expansion capital. Terms of the transaction were not disclosed.
Upon completion of the acquisition, CBF’s management team will remain in place and continue to oversee day-to-day operations of the company’s recently expanded North Dakota facility.
“The acquisition of CBF Group enhances our position as the leading global provider of legal process outsourcing services”, said Liam Brown, Integreon’s CEO. “In addition to our substantial offshore facilities we now have a major operations center in a cost-efficient U.S. location, giving us the unparalleled ability to offer legal clients industrial scale outsourcing solutions both onshore and offshore.”
Mr. Brown also noted that the CBF acquisition gives Integreon relationships with two of the world’s top three law firms and will allow the company to provide its associates with global career paths, thereby further enhancing its unrivalled employee retention rates.
“Law firms are following the lead of their corporate clients and are increasingly looking at innovative forms of outsourcing as a means to drive operating efficiencies and cost savings,” said Michael Bryant, CBF’s Chief Executive. “Many U.S. law firms are more comfortable using an outsourcing firm based in their home country, but want the cost efficiencies that can sometimes only be achieved by utilizing offshore facilities. Merging with Integreon gives our clients the best of both worlds. We are especially excited that both companies share a passion for excellence in customer service and a commitment to employee training, retention and advancement.”
With almost 2,000 employees globally, Integreon serves many of the largest global law firms, investment banks and numerous Global 2000 corporations in both the U.S. and Europe. The company was named the top-ranked provider globally of high-value legal process outsourcing (LPO) services and the top-ranked provider of high value knowledge process outsourcing (KPO) services in Brown-Wilson Group’s prestigious 2006 annual survey of outsourcing service providers.
Integreon has achieved strong organic growth of as much as 80 percent in each of the past five years and has recently signed significant new client contracts, including an agreement to build a service center in Delhi to support the administrative functions of Clifford Chance, the world’s largest law firm. The company has also successfully integrated a number of acquisitions over the past few years and has retained key management and staff from each of those integrations.
Integreon last year completed a management-led buyout in partnership with the Ayala Corporation, one of the leading conglomerates in the Philippines. The buyout allowed Integreon’s management to increase its already significant stake in the company.
Headquartered in Los Angeles, Integreon also has offices in New York, London and Mumbai. The company has announced plans to build service facilities in Manila and Delhi in 2007.
About Integreon
Integreon provides high value, complex BPO solutions (also known as Knowledge Process Outsourcing, or judgement-based BPO), specializing in document, content and knowledge services. Its clients include the world’s largest financial services institutions, law firms, consultancies, publishing and media companies and Global 2000 corporations. For more information please visit www.integreon.com
About CBF Group Inc.
CBF Group is a U.S. owned and operated administrative and technology outsourcing solutions company, focused on providing professional service firms with high quality, cost-effective document production, word processing and technology support services. CBF provides support to lawyers, executives, and staff 24 hours a day, 365 days a year. CBF’s Support Center is located in Fargo North Dakota with a newly opened sales office in the New York Area. For more information please visit www.cbfgroup.net.