Alltel acquires BenchMark Consulting

Alltel acquires BenchMark Consulting

Alltel is to acquire BenchMark Consulting International, an Atlanta-based firm which specialises in measuring, designing and improving operations processes for financial service providers.

Financial terms of the agreement were not disclosed. The transaction is expected to close during the third quarter.

The acquisition should strengthens Alltel's position in the loan servicing industry and provide access to an even broader group of clients, according to Jeff Fox, president of Alltel Information Services. A third of total dollar volume of outstanding US consumer loans, including mortgages, is currently processed on Alltel software applications.

Established in 1980, BenchMark works with 19 of the top 20 US commercial banks, 13 of the largest automobile captive finance corporations, several of the largest US consumer finance corporations, and many regional banks.

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