One Equity Partners acquires MSS*Group, Inc.
FEBRUARY 2004 – New York (February 6, 2004) - One Equity Partners, Bank One’s private equity group, has acquired MSS*Group, Inc., its third strategic acquisition in the telecommunications expense management (TEM) industry in the last three weeks.
MSS*Group, Inc., is the largest independent provider of telecom expense and financial management services, servicing primarily Fortune 1000 companies. The acquisition follows closely the acquisitions of TSL and Digital Reliance, which One Equity Partners announced on January 20.
“MSS is a very complementary fit with TSL and Digital Reliance,” said Ethan Ayer, vice president of One Equity Partners. “Its new software is unmatched in the market, and the company, like TSL, has a long history of providing excellent customer service to enterprise customers. The combination of MSS*Group, Digital Reliance, and TSL is the largest and most complete TEM vendor on the market today.”
“We are putting together three leading companies in their respective market segments, backed by the financial strength of One Equity Partners,” comments Johnny Podrovitz, president and CEO of MSS*Group, “which allows us to immediately offer a complete suite of TEM products to all of our customers.” He adds that continued growth will come from “new sales, cross-selling new products to existing customers, expansion into international markets, and the eventual management of more invoices than just telecom.”
One Equity Partners was advised in the transaction by Mooreland Partners LLC. MSS*Group’s advisor was Headwaters MB.
About MSS*Group, Inc.
MSS*Group, Inc. (www.mssgroup.com), provides bill processing, and cost and financial management, of telecommunications services expenses. The company’s Power Suite includes two ASP services and its flagship business process outsourcing service. MSS*Group manages more than $750 million in telecom bills annually, generating more than $300 million in savings for a Fortune 1000 client base over the past 10 years. Based in Castle Rock, Colo., the company employs 200 in four offices throughout the United States.
Based in Parsippany, N.J., TSL (www.tsl.com) is a leading expense management consulting firm in the United States, offering a complete suite of IT financial management services. The company provides Fortune 1000 companies with a full portfolio of audit, contract management, invoice processing, chargeback, inventory and Internet-based application services, and is responsible for managing over $1.2 billion of IT expenses annually on behalf of its current client base.
About Digital Reliance
Digital Reliance, Inc. (www.digitalreliance.com), provides comprehensive web-enabled services for wireless communications management. By integrating customer billing data and carrier rate plan information from across all carriers into a unified management system, Digital Reliance provides services which enable its clients to control wireless usage, manage costs and facilitate intelligent planning.
RELEASED BY ONE EQUITY PARTNERS