One Equity Partners announces the acquisitions of TSL and Digital Reliance
Acquisitions Mark First Step in Creating the Leading Provider of Telecommunications Expense Management Services
Parsippany, NJ (January 20, 2004) — One Equity Partners, Bank One’s private equity group, announced today that it has made two complementary acquisitions: TSL, the leader in IT financial management solutions, from PRG-Schultz International; and, Digital Reliance, Inc., a leading provider of wireless management and optimization services.
Digital Reliance will become the wireless division of TSL in the first step to creating the leading telecommunications expense management (“TEM”) firm in the world.
“TSL provides an excellent foundation with a loyal base of 170 customers, a 17-year history of excellent customer service to the Fortune 1000 and a broad set of products and services,” said Ethan Ayer, Vice President at One Equity Partners. “Adding Digital Reliance immediately makes TSL a leader in the wireless industry and provides TSL with the hottest new product in TEM.”
“This is great news not only for us, but for our clients as well,” said Robert J. Svec, CEO of TSL. “Digital Reliance and TSL have had a long-standing partnership so our integrated technologies and services will be available quickly to our clients. With One Equity Partners’ financial strength and with Digital Reliance’s technology and expertise in the wireless industry, we will have the most complete suite of products in the telecommunications expense management market.”
“TSL and Digital Reliance each provide world-class and unique services,” said Brick Thompson, CEO of Digital Reliance. “The combination of these two companies with One Equity Partners’ backing creates the first large, diversified, profitable, leading-edge provider of TEM solutions in this highly fragmented industry.”
Since forming in 1986, TSL has become the world’s foremost provider of comprehensive IT financial management solutions for Fortune 1000 companies. By leveraging core competencies in invoice processing, bill validation, charge-back services and contract negotiations, TSL provides solutions that allow clients to focus on the strategic aspects of running their businesses.
Digital Reliance, Inc. was founded in January of 2000 to meet the acute and growing problem faced by businesses in managing wireless accounts and assets. Digital Reliance’s MobileSolutions provides products and services that reduce costs, optimize usage and ensure wireless assets can be tracked and managed through their corporate life cycle.
“The acquisition of TSL and Digital Reliance is just the first step in a substantial commitment to create the best-of-breed Telecommunications Expense Management provider in the United States and globally,” added Ayer.
Based in Parsippany, NJ, TSL is the 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 annual IT expenses on behalf of its current client base. For more information, visit the TSL web site at www.tsl.com or call 866.FONE TSL
About Digital Reliance
Digital Reliance, Inc., 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