American InfoSource Acquires Bankruptcy Service Provider Ascension Capital Group
HOUSTON, Texas (May 17, 2012) – American InfoSource LP (AIS), a diversified, global financial services firm based in Houston, today announced the acquisition of substantially all of the assets of Ascension Capital Group, Inc. (ACG), a subsidiary of Encore Capital Group, Inc. (Nasdaq: ECPG). ACG is a leader in secured bankruptcy servicing, and litigation management for the financial services industry. The financial terms of the deal were not disclosed.
With AIS’ success in the unsecured market and ACG’s achievements in the secured space, this acquisition capitalizes on the core strengths of each organization and creates the most comprehensive bankruptcy servicing platform in the industry.
“American InfoSource is excited about this expansion and the acquisition of the talent and expertise at Ascension. ACG offers a secured bankruptcy solution which is an ideal complement to our current business,” said Blake Hogan, President, American InfoSource. “By blending their expertise with our bankruptcy data, servicing technology and brand protection programs, we have solidified our position as the leading servicer of consumer bankruptcy debt.”
The Ascension platform provides American InfoSource the operational and legal resources needed to offer best-in-class portfolio servicing to secured lenders. American InfoSource currently performs unsecured bankruptcy functions for many of the largest financial institutions in the country.
“This truly is a game changer for American InfoSource,” Hogan said. “We are now uniquely positioned to execute servicing agreements on both secured and unsecured portfolios in an effective, compliant and profitable manner for our clients.”
About American InfoSource:
American InfoSource LP is a diversified, global financial services company, leveraging proprietary and licensed information to maximize growth of performing accounts, improve profitability of non-performing accounts, and ensure brand protection for its clients. With its core competencies of risk management, data analytics, process design, and programming, American InfoSource offers data and information, account servicing, and integrated consulting solutions in the bankruptcy, estate and debt settlement arenas. American InfoSource is headquartered in Houston, TX. The Company’s operations include sites in Oklahoma City, OK and Vadodara, India.
About Ascension Capital Group:
Ascension Capital Group, Inc. serves as the outsourced manager of secured bankrupt accounts for many of the nation’s leading lenders. For over 25 years, Ascension Capital Group assisted portfolio servicers of automobile loans and home loans to improve key metrics for reaffirmation rates, confirmed plan values, cram-down reduction, litigation cost, reporting, forecasting, risk management, and compliance. ACG’s management team and nationwide attorney network is comprised of some of the nation’s leading experts on consumer bankruptcy. Ascension Capital Group is headquartered in Arlington, TX.
For More Information, Please Contact:
VP Business Development