BancTec, a US-based provider of document and payment processing solutions and services, has acquired Beta Systems ECM Solutions, a subsidiary of Berlin-based Beta Systems Software.

Beta Systems ECM Solutions provides enterprise content management (ECM) solutions for financial services in Europe. With this transaction, Beta Systems sells its complete ECM line of business, which has its origins in the former Kleindienst Solutions portfolio.

The acquisition is expected to enable BancTec to enhance its client base in banking, insurance and financial services in Germany, and strengthens its portfolio of document and payment processing solutions and services for these industries.

In addition to providing increase in BancTec’s German revenue base, the acquisition is also expected to open new opportunities for the company throughout Eastern Europe and other emerging markets.

Coley Clark, chairman and CEO of BancTec, said: “Beta Systems ECM Solutions has a decades-long history of providing some of the most advanced, scalable, document and payment processing solutions and services to the financial services market. In addition, they have a highly skilled group of employees with tremendous, industry-focused intellectual capital.

“We believe that these resources, in combination with those already existing at BancTec, will enable us to provide an even stronger portfolio of solutions and services to some of the largest and most complex financial institutions in the world. We look forward to integrating Beta Systems ECM Solutions into the BancTec family.”

Gernot Sagl, member of the management board of Beta Systems Software, said: “For Beta Systems, this step means that we will be able to concentrate on our core competence as a pure infrastructure software provider in the future. In many respects, it was expedient for both companies, and we are happy to put our business relations to our ECM customers in the EMEA region in the hands of such an experienced partner as BancTec.”