Alliance Data Systems Corp. , a leading provider of transaction services, marketing services and credit services, today announced that it has acquired Conservation Billing Services, Inc. (CBSI), a large Florida-based submetering service provider. Total consideration was less than $15 million.
Through this acquisition, Alliance Data will now provide submetering services that include automated meter reading, billing and collecting for clients that manage commercial properties that house multiple tenants, such as malls and multi-family properties. With this new submetering capability, Alliance Data can provide large customers of utilities a means of monitoring and tracking usage by individual unit for more accurate billing - a key benefit in light of increasing attention on both conservation and the desire to mitigate exposure to potentially volatile gas, water and electricity prices. Currently, without submetering services, these larger customers must absorb the risk of price fluctuations.
Alliance Data currently has more than 20 utility clients consisting of large investor-owned regulated and deregulated utilities. In addition, the company recently announced that it extended its reach and is now providing outsourced solutions to municipal utilities.
"This acquisition adds complementary services that enhance our offerings to the utility marketplace, and we also believe that submetering itself is a very large market, of which less than a third has been penetrated at this point," said Mike Beltz, president, Utility Services, Alliance Data Systems.
About Alliance Data Systems
Based in Dallas, Alliance Data Systems is a leading provider of transaction services, credit services and marketing services. The company assists retail, petroleum, utility and financial services clients in managing the critical interactions between them and their customers. Alliance Data manages over 72 million consumer relationships for some of North America's most recognizable companies and operates and markets the largest coalition loyalty program in Canada. Alliance Data Systems employs approximately 6,500 associates at more than 20 locations in the United States and Canada. For more information about the company, visit its web site, www.alliancedatasystems.com.
Alliance Data Systems' Safe Harbor Statement/Forward Looking Statements
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Alliance Data Systems Corp.