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ChaseCom L.P., a Houston-based telecommunications company that once ranked among the be 100s, signed a definitive agreement in October to be acquired by AT&T Inc. for an undisclosed cash sum.
According to Anthony R. Chase, ChaseCom CEO, executives at AT&T decided to bring their outsourced customer- services operations in-house. ChaseCom had been providing those services under contract for the past nine years. “It’s a great exit strategy for us,” Chase says. “It’s a natural evolution, reflecting the value in our firm.”
Chase will retain ownership of ChaseSource, a staffing and recruiting business that generated roughly $7 million in 2006.
ChaseCom, which reported about $30 million in revenues last year, fell from the be 100s rankings in 2006 due to the impact of the National Do Not Call Registry. At the time, about 90% of ChaseCom’s revenues stemmed from telemarketing calls. As a result, revenues were cut nearly in half, forcing Chase to redefine his business to provide outsourced customer service and support for companies such as AT&T.
“AT&T_and ChaseCom have a longstanding relationship,” says Rick Moore, senior vice president of corporate development at AT&T. “As AT&T brings the capabilities that ChaseCom has been providing in-house, it makes sense to acquire the business.”