U.S. Debt Completes Two Acquisitions
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US Debt Settlement /
U.S. Debt Completes Two Acquisitions
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1,000 new clients acquired
LOS ANGELES, CA. - November 16(th), 2010 - U.S. Debt Settlement, Inc. ("USDS",
or "the Company") today announces that it has completed the acquisitions of the
assets of Ram Financial Services and Bridgeway Debt Solutions. Both deals
combine stock and a further earn-out clause. Accordingly, both sets of assets
were acquired without requiring a cash payment from U.S. Debt. With these
acquisitions, U.S. Debt adds an additional 1,000 customers to its existing
client base, bringing the total up to approximately 4,500. This represents a
28.6% increase in the amount of clients that U.S. Debt currently serves.
Michael Mann, CEO for U.S. Debt Settlement, stated, "We are pleased that we have
now completed these two acquisitions. As with our previous acquisitions,
combining the assets of the companies creates further economies of scale. We
have now successfully integrated the clients of six companies (including those
of U.S. Debt) into one operation at our headquarters in Grapevine, Texas. We
now have 24 employees that service approximately 4,500 clients."
"Our growth by acquisition strategy has proven to be successful, as we have
achieved and maintained profitability over the last 2 quarters and expect the
same for Q4. By following this strategy we now have the appropriate back office
support to launch our next phase of organic growth. We will announce the launch
of our new products and services in the next few weeks. The new products and
services include an attorney backed debt resolution program, a success-fee-only
model and an automated debt resolution platform."
About U.S. Debt Settlement
Founded in 2003, U.S. Debt Settlement (US4.DE) provides professional debt
settlement solutions to financially troubled consumers throughout the country.
U.S. Debt Settlement specializes in helping those people faced with overwhelming
debt. The Company offers its clients a very practical and effective way to
resolve what they owe credit card companies and other sources of unsecured debt.
Contacts:
U.S. Debt Settlement
Michael Mann, CEO
4811 Merlot Avenue, Suite 110
Grapevine, Texas 76051
Telephone 1- 817 778 4740
mmann(at)usdebtsettlement.com
Note to editors: If you are interested in viewing additional information on US
Debt Settlement , please visit the US Debt Settlement Web page
athttp://www.USDebtSettlement.com on US Debt Settlement's corporate information
pages. Web links, telephone numbers, addresses and titles were correct at time
of publication, but may since have changed. For additional assistance,
journalists and analysts may contact US Debt Settlement's Rapid Response Team or
other appropriate contacts listed at http://www.USDebtSettlement.com
[HUG#1462784]
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US Debt Settlement
21625 Prairie St, 2nd Floor Chatsworth USA
WKN: A0RFKP;ISIN: US9033201099;
Listed: Open Market (Freiverkehr) in Frankfurter Wertpapierbörse;
Press Release as PDF:
http://hugin.info/143076/R/1462784/401679.pdf
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Source: US Debt Settlement via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 16.11.2010 - 10:15 Uhr
Sprache: Deutsch
News-ID 48815
Anzahl Zeichen: 4304
contact information:
Town:
Chatsworth
Kategorie:
Business News
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