Cass Information Systems Acquires UK-Based Effective Telecoms Ltd
ST. LOUIS - March 6, 2017 - Cass Information Systems, Inc. (NASDAQ: CASS), a leading provider of integrated information and payment management solutions, has acquired Effective Telecoms Ltd. (“Efftel”), a privately held UK-based telecom expense management firm, as Cass continues to execute its global growth strategy and strengthen its European presence.
With this acquisition, Cass customers benefit from increased service delivery quality and scalability across Europe, while Efftel customers are now able to leverage the broader set of services and service geographies offered by Cass. Additionally, the Efftel acquisition adds several strategic customers to the Cass client base.
Demand for telecom expense management services in the UK and Europe has grown significantly in recent years as corporations seek to expand mobile access, secure IT communication networks, upgrade technologies and increase reliability -- all while holding down cost.
“The foundation of our growth strategy continues to be our leadership in service quality and customer satisfaction,” noted Gary Langfitt, president of Cass Expense Management Services. “Like Cass, Efftel is steadfast in its commitment to delivering excellent customer service and tangible, bottom-line savings to clients. This shared philosophy makes the Efftel acquisition an excellent strategic and cultural fit.”
David Rosenthal, founder and managing director at Efftel, will become managing director of European Services for Cass Expense Management Services. “At Efftel, our aim has always been to deliver forward-thinking and user-friendly approaches to telecom cost management and, in this, we remain consistent,” Rosenthal said. “As we unite with Cass, we now offer our European-based clients a truly global solution for telecom as well as other facility-related and transportation costs.”
“We are committed to providing excellent service and support to our clients in Europe as well as to the execution of our global strategy, which includes investment into new markets,” commented Eric Brunngraber, chairman and CEO of Cass Information Systems. “We eagerly welcome the Efftel group to Cass, recognizing the success this team has achieved in serving the complex needs of global corporations.”
Efftel is a specialist provider of mobile and fixed telecom billing, analysis and procurement support services, established in 2001. Its team of pan-European analysts, programmers, auditors, project managers and consultants are all experienced telecom professionals, bringing a combination of technical and market knowledge to each project. The company has offices in Basingstoke and Amsterdam. For more information, see www.efftel.co.uk.
About Cass Information Systems
Cass Information Systems, Inc. is a leading provider of integrated information and payment management solutions. Cass enables enterprises to achieve visibility, control and efficiency in their supply chains, communications networks, facilities and other operations. Disbursing nearly $40 billion annually on behalf of clients, and with total assets of $1.5 billion, Cass is uniquely supported by Cass Commercial Bank. Founded in 1906 and a wholly owned subsidiary, Cass Bank provides sophisticated financial exchange services to the parent organization and its clients. Cass is part of the Russell 2000®.