SourceHOV

In 2007, HandsOn Global Management LLC (HGM) acquired Lason, a provider of document management outsourcing services.[4] This acquisition led to the creation of HOV Services (HOVS), a company providing transaction processing services to corporations. Subsequently, SourceHOV was formed as the merger in May 2011 of HOV Services, and SourceCORP, a business process outsourcing company.[5][6][7] These companies were respectively owned by Apollo Global Management LLC until 2013, CVCI (The Rohatyn Group) until 2014 and HGM and affiliates that remained the majority shareholder.[8][9] Following this merger, HGM and Apollo created a new corporation called SCH Services, Inc in Delaware. As a result, SCH renamed and became SourceHOV Holdings, Inc., and SourceCorp, SourceHOV LLC. In December 2013, several notable companies expressed interest in acquiring SourceHOV.[10][11]

In 2014, SourceHOV acquired BancTec Inc., a provider of transaction processing solutions to commercial banks, governments, insurance companies and large organizations.[12] This acquisition enabled SourceHOV to expand its operations and services into international banking and payments.[13][14]

In 2016, SourceHOV further transformed into a solution provider for larger industries and incorporated key technologies with the acquisition of TransCentra, Inc., a provider of integrated billing, remittance processing, imaging software and consulting services.[15] The addition of TransCentra improved SourceHOV's position in banking and payment.[16][17]

In February 2017, SourceHOV, LLC, Novitex Holdings, Inc and Quinpario Acquisition Corp. 2, a Special-purpose acquisition company, agreed to merge and create Exela Technologies a large provider of financial technology and business services to blue chip clients.[1][2] This transaction, valued at $2.8 billion, is expected to close during the second quarter of 2017.[3][18][19]

SourceHOV specializes in transactions for international industries including financial services, health care, public sector organizations, insurance, and legal organizations.[20] SourceHOV offers workflow management system and business process outsourcing (BPO) solutions that enable companies to automate complex, data-intensive transactions. The company's business transaction management services include accounts management, financial, healthcare, insurance and risk management services.[21]