English

TRANSCOM ACQUIRES CZECH DEBT COLLECTION BUSINESS


TRANSCOM ACQUIRES CZECH DEBT COLLECTION BUSINESS

Transcom WorldWide S.A., the European Customer Relationship Management specialist, today announced that it has acquired Creditexpress CR s.r.o. for a cash consideration of €1.5 million. Creditexpress is one of the Czech Republic’s leading debt collection agencies and has grown rapidly since its establishment in 2002. The Company’s revenues grew by more than 30% to €1.4 million in 2004 and the business reported operating margins in line with the European industry average. The acquisition will therefore be earnings enhancing.

The purchase will be funded out of Transcom’s existing cash balances, which amounted to €38.1 million as at 31 March 2005. On completion, the total consideration of €1.5 million will be deducted from Transcom’s cash balances. €1.05 million of the purchase price is payable immediately. The remaining €0.45 million has been placed into escrow and is payable in two instalments in January 2006 and January 2007.

Based in Prague, Creditexpress primarily operates on a commission collection basis but also acquires third party portfolios of debt with a particular focus on the telecommunicationss, banking and financial services sectors. The Company employs 50 people and has over 30 clients in both the Czech Republic and the Slovak Republic. Creditexpress’s senior management personnel have signed long-term contracts to remain with the business.

Keith Russell, President and CEO of Transcom WorldWide, commented: “This acquisition demonstrates our commitment to extending our geographical footprint further into new markets, and is in line with our strategy of focusing on the development of our debt collection activities. In addition to providing high quality services to Creditexpress’s current customer base, this acquisition will also provide a platform to expand our service offering into the Czech and Slovak markets.”


For further information please visit www.transcom.com or contact:
Keith Russell, President and CEO
+352 27 755 000
Alex Dee, Investor & Media Enquiries
+44 20 7321 5010




Transcom WorldWide is a rapidly expanding Customer Relationship Management (CRM) solution provider, with 42 service centres employing more than 10,700 people delivering services to 24 countries - Luxembourg, Sweden, France, Denmark, Germany, Finland, Italy, Switzerland, Belgium, Hungary, Norway, the Netherlands, Spain, Austria, Morocco, Poland, Portugal, Estonia, Latvia, Lithuania, Serbia, the UK, the Czech Republic and the Slovak Republic.

The company provides CRM solutions for companies in a wide range of industry sectors, including telecommunications and e-commerce, travel & tourism, retail, financial services and utilities. Transcom offers clients a broad array of relationship management services, including inbound communication; telemarketing and outbound; Administrative Tasks; Web servicing; CRM Consultancy Service; Contract Automation; Credit Management Service; and Legal Services. Client programs are tailor-made and range from single applications to complex programs, which are offered on a country-specific or international basis in up to 39 languages.

Transcom WorldWide S.A. ‘A’ and ‘B’ shares are listed on the Stockholmsbörsen O-List under the symbols TWWA and TWWB.


------------------------------------------------------------
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://wpy.waymaker.net/client/waymaker1/WOLReleaseFile.aspx?id=93720&fn=wkr0001.pdf