Sign up now for the ATM Marketplace newsletter and get the top stories delivered straight to your inbox. Sentinel Net Lease, LLC (Sentinel) acquired a 59927 SF office building in Orlando, Florida, that is 100 occupied by CardWorks Servicing under a long-term. KEEP UP WITH ATM AND DIGITAL BANKING NEWS AND TRENDS "As such, the acquisition will further strengthen our end-to-end credit card and installment loan portfolio management and servicing offerings for banks, credit unions, non-bank lenders, and asset managers." CardWorks will offer its resources and operational support to Dataline, which will in turn grow its business with clients in both companies. "Dataline has unique capabilities in payment disbursement services, data reporting and analytics, and business process automation, each of which are additive to our existing CWS capabilities," Matt Berman, head of servicing business at CardWorks, said in the release. In this deal, it appears that Ally which saw its stock price drop post deal opted not to "fill" the deal per reports.ĬardWorks Servicing LLC, an outsourcing support services for credit cards and installment loan products, has acquired Dataline Systems LLC, a business process outsourcing and financial services operations support company, according to a press release. Such an adjustment was said to potentially arise if Ally’s stock price were to decline by more than 15% in which case a kill-or-fill termination right would be exercised in which Ally can elect to fill it by issuing additional stock. According to the acquisition announcement, the share number of the deal was based on Ally’s closing stock price of $32.85 on February 14, and the price was based on Ally’s forecast of closing equity and other adjustments, excluding any possible kill-or-fill adjustment. CardWorks Servicing, LLC Pittsburgh, PA A Team Leader in the Collections Department supervises a team of consumer credit card and loan collections Specialists. This was due in part to the structure of the deal. However, on June 24, 2020, both parties announced that the deal had been called off. Get information, directions, products, services, phone numbers, and reviews on Cardworks Servicing in Lake Mary, undefined Discover more Communications. On February 18, 2020, CardWorks announced it was being acquired by Ally Financial for $2.65B. Carson Smithfield provides post-charge-off debt recovery services. ![]() ![]() CardWorks Servicing is an independent servicer of nationally-branded Visa®/Mastercard® cards, secured cards, and unsecured installment loans. CardWorks provides servicing operations and portfolio management to bank and non-bank consumer and small business lenders through CardWorks Servicing and Carson Smithfield. CardWorks is a consumer lender, merchant acquiring bank, and loan servicer to regulated financial institutions and non-bank lenders. Founded in 1987, CardWorks is one of the largest privately-held providers of end-to-end outsourcing support services for both credit card and installment loan.
0 Comments
Leave a Reply. |