Trueml Acquires Erc Recovery Business

Oct 04, 2022•almost 3 years ago

Acquiring Company

TrueML

Acquired Company

ERC Recovery Business

FintechFinancial ServicesSoftware

Description

One True Holding Company d/b/a/ TrueML, a financial technology software company developing machine learning-driven products that enable intelligent, digital communication including in the debt collection space, today announced it has acquired the debt collection business of Enhanced Recovery Company, LLC (ERC), a leading collections provider. The deal will bring ERC under the TrueML family of companies to accelerate TrueML's mission of creating a better experience for distressed consumers.

Company Information

Company

TrueML

About

Samet was inspired to start the company after a negative experience he had with an overdue bill, after which he and his brother Nadav set out to create better experiences and more productive outcomes for consumers looking for a path to financial health. To learn more about TrueML, its subsidiaries and their products, visit www.TrueML.co, and follow the company on LinkedIn and Twitter.About TrueMLTrueML is a software company developing machine learning-driven products that prioritize customer experience and revolutionize the experience of consumers seeking financial health. The mission-driven team of data scientists, financial services industry experts and customer experience fanatics are building technology to serve people in a way that recognizes their unique needs and preferences as human beings and endeavoring toward ensuring nobody gets locked out of the financial system.SOURCE TrueML

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed