EOS Acquires Banco Popular Debt Collection Unit for $180 million

International ARM giant EOS Group announced Wednesday that it has acquired the debt collection unit of Spanish bank Banco Popular. Both parties agreed on a purchasing price of 135 million euros ($180 million).

“For EOS, this is one of the most significant investments in our recent corporate history,” said Hans-Werner Scherer, CEO of EOS Group, on the acquisition. “EOS thus further expands its position in the Spanish market.”

Through the sale of its debt collection unit to EOS, Banco Popular will fully outsource the collection of receivables with payment irregularities that are overdue up to 90 days. Moreover, with this transaction and an exclusivity agreement valid for ten years, the Spanish banking group and the Hamburg-based financial services provider solidify their partnership. Already in 2009 EOS Group had acquired Acción de Cobro, the debt collection unit of Banco Pastor, a Banco Popular Group company.

The EOS Group is one of the leading international providers of individual services connected with the customer relationship life cycle — from customer acquisition to electronic payments processing and ultimately debt collection and factoring. The main focus is on receivables management. With over 9,000 employees and 51 subsidiaries, EOS provides services for 20,000 clients in 27 countries around the world.