BizAps Acquires Purchasing Card Business Unit XiBuy From Paymetric
January 08 2009 - 9:41AM
Marketwired
WNS (Holdings) Limited (NYSE: WNS), a leading provider of global
business process outsourcing (BPO) services, today announced that
BizAps, a WNS group company, has acquired XiBuy(TM) from
Houston-based Paymetric, Inc. XiBuy is a certified SAP� add-on
solution for integrating and managing purchasing card (p-card)
transactions in SAP. As a result of the transaction, BizAps expects
to provide all on-going development, support and maintenance
activities for XiBuy customers, which include leading blue chip
companies, providing seamless continuity by utilizing key Paymetric
development and support personnel.
BizAps delivers a broad range of solutions for the
procure-to-pay automation market. The addition of the XiBuy
solution provides a complementary product to BizAps' p-card
portfolio and increases its penetration into the North American
market. The expanded p-card solution will give customers a wider
range of offerings to suit their unique procure-to-pay needs.
"This acquisition is in line with our vision to be the leading
procure-to-pay solution provider by enabling businesses with a
highly integrated and automated account payable function," said
Conor Mullaney, Director of BizAps. "XiBuy's functionality enhances
our planned product roadmap, widens our depth of offerings and
expands our finance and SAP optimization consultancy practice.
While we are excited about what the future holds for the combined
business, our first priority is to ensure a smooth transition for
all existing service agreements and annual maintenance contracts
for existing XiBuy customers."
"This is a strategic move for Paymetric and is a testament to
the success we've enjoyed in bringing world-class payment
integration solutions to the SAP market," said Kathleen Nugent,
Vice President of Paymetric. "We are excited for our XiBuy
customers and are confident they will enjoy continued success and
expanded opportunities under the care and guidance of BizAps. Their
experience in SAP integration and specialization in procure-to-pay
solutions is why we chose BizAps to be the steward of the XiBuy
solution going forward."
About Business Applications Associates (BizAps)
Business Application Associates (BizAps), a WNS Group company
formed in 2001, is a leader in delivering innovative SAP solutions
that optimize finance functions and processes including
purchase-to-pay, order to cash and financial supply chain
functions. Its SAP Finance focus provides "best in class" solutions
used by many global companies. BizAps is a leader in integrated and
secure ePayment processing with a proven track record in delivery.
Additional information about BizAps is available at
www.bizaps.net.
About Paymetric, Inc.
Paymetric, Inc. is solutions for ERP systems. Paymetric combines
proven expertise in ERP payment workflow and security with powerful
ePayment processing services to dramatically reduce the total cost
of payment acceptance, transform and streamline enterprise payment
processes, and substantially reduce the burden of PCI compliance
and data security. Paymetric is an Austin Ventures portfolio
company and an award-winning SAP software partner. Visit
www.paymetric.com for additional information.
Safe Harbor Statement under the provisions of the United States
Private Securities Litigation Reform Act of 1995
This news release contains forward-looking statements, as
defined in the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking
statements include statements relating to the transfer of Paymetric
personnel to BizAps, the transition of XiBuy customer contracts to
BizAps, and the expected benefits from the combined business of
BizAps and XiBuy These statements involve a number of risks,
uncertainties and other factors that could cause actual results to
differ materially from those that may be projected by these
forward-looking statements. These risks and uncertainties include
but are not limited to our ability to successfully integrate XiBuy
with BizAps' operations, technological innovation;
telecommunications or technology disruptions; future regulatory
actions and conditions in our operating areas; our dependence on a
limited number of clients in a limited number of industries; our
ability to attract and retain clients; our ability to expand our
business or effectively manage growth; our ability to hire and
retain enough sufficiently trained employees to support our
operations; negative public reaction in the US or the UK to
offshore outsourcing; regulatory, legislative and judicial
developments; increasing competition in the business process
outsourcing industry; political or economic instability in India,
Sri Lanka and Jersey; worldwide economic and business conditions,
including a slowdown in the U.S. and Indian economies and in the
sectors in which our clients are based and a slowdown in the BPO
and IT sectors world-wide; our ability to successfully consummate
strategic acquisitions, as well as other risks detailed in our
reports filed with the U.S. Securities and Exchange Commission.
These filings are available at www.sec.gov. We may, from time to
time, make additional written and oral forward-looking statements,
including statements contained in our filings with the Securities
and Exchange Commission and our reports to shareholders. You are
cautioned not to place undue reliance on these forward-looking
statements, which reflect management's current analysis of future
events. We undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
CONTACT: Investors: Alan Katz VP - Investor Relations WNS
(Holdings) Limited +1 212 599-6960 ext. 241 ir@wnsgs.com Media:
Josh Passman CJP Communications +1 212 279-3115 ext. 203
jpassman@cjpcom.com
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