TDX Group, a data and technology debt services firm in the United Kingdom, announced Monday it has acquired the assets of Credit Account Management (CAM) from Interlaken Group for an undisclosed sum.
TDX provides platforms, tools and services to many of the UK’s largest creditors across financial services, energy, telecommunications and water sectors. CAM has 12 full-time employees who all have been offered roles within the Interlaken Group.
The deal will allow the Interlaken Group to focus building on the collections market, according to a news release. The company owns Fredrickson International and SRJ Debt Recoveries businesses.
The deal also comes several months after Rod Curry stepped down as CEO at CAM.
Simon Jones, group managing director of Interlaken Group, said, “Having made the decision to focus on our DCA capabilities, Interlaken Group is pleased to have completed the sale of CAM’s assets to TDX Group enabling our clients to continue to benefit from ongoing panel and asset management services”.
Mark Sanders, CEO of TDX Group added, “TDX is committed to growth and innovation in the debt industry and we are always looking to improve the technology our clients can access.
"Combining the market-leading technologies of TDX Group and CAM will enable TDX to continue to improve and standardize data interfaces across the debt industry to provide both collection agencies and creditors with cleaner and more relevant data…"