**Editor's Note: Please click here for a recap of the biggest M&A in Q4 2012 in the service-provider and BSS/OSS spaces.**
Outsourced billing provider Billtrust today announced what it calls a strategic merger with Best Practice Systems, the Englewood, Colo.-based provider of end-to-end billing solutions. The companies say as one unit they will offer a comprehensive mix of billing services that span over two-dozen industries across North America.
“Billtrust and Best Practice Systems are a great fit," said Flint Lane, Billtrust CEO and president. “Our customer bases are diverse, spanning different market segments and billing needs. Our joint electronic offerings will place us in a commanding position within the industry. Most of all, Best Practice Systems shares our unwavering commitment to customer service. Together we expect to provide even greater level of service to our current and prospective customers."
Billtrust claims to have a strong presence in the business-to-business (B2B), business-to-consumer (B2C), municipality and utility markets. The company says it is known for its customer service and a customer retention rate of more than 99 percent. Best Practice Systems has forged a position in the B2C realm, particularly in the insurance and health-care industries. Its strengths include complementary billing solutions involving payments over mobile devices and IVR (Interactive Voice Response).
“The combination of Best Practice Systems and Billtrust will clearly result in increased service offerings," noted Clint Waite, CEO of Best Practice Systems. “Our two companies share the same values and are committed to driving electronic billing and payment within our customer base. Moreover, we are two of only a handful of providers that deliver the complete value proposition including print and electronic billing."
The merger is the first strategic move following Bain Capital's investment in Billtrust. That $25 million in funding, announced in November, is helping Billtrust to identify and acquire companies that will further strengthen its position in the billing and payments industry. Financial terms of the deal were not disclosed.
Follow editor Craig Galbraith on Twitter @Craig_Galbraith .