Includes Key Paymetric Personnel; Furthers BizAps' Portfolio in Procure-to-Pay
NEW YORK, NY and HOUSTON, TX--(MARKET WIRE)--Jan 8, 2009 -- WNS (Holdings) Limited (NYSE:WNS - News), 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.
VP - Investor Relations
WNS (Holdings) Limited
+1 212 599-6960 ext. 241
+1 212 279-3115 ext. 203
Source: WNS (Holdings) Limited