International law firm Reed Smith LLP has advised Billing Services Group Limited (“BSG”) on it’s acquisition of the German-based, leading pan European wireless telecommunications clearing house, EDS Interoperator Services GmbH (“EDS IOS”).

BSG provides third-party billing, clearing and information management services to the telecommunications industry. The company has signed an agreement to acquire EDS IOS from EDS Operations Services GmbH for a total of €£107 million -  £86.8 million payable on completion and €£20.8 million upon fulfilment of certain conditions.

The Acquisition marks the first step in BSG’s strategy of European expansion stated at the time of its admission to AIM in June 2005, [on which Reed Smith also advised]. 

Commenting on the deal, Giles Beale partner in the business and finance department of Reed Smith and lead partner on the deal commented: “We were delighted to have acted on this Acquisition for BSG, which represents a good strategic fit for BSG’s vision and growth opportunities and is anticipated to significantly enhance BSG’s global presence and infrastructure.”

Pat Haynes, Chief Executive Officer of BSG, added that: “The Acquisition uniquely positions BSG for network convergence and next-generation service offerings, as well as enhances our global presence and we look forward to working with EDS IOS on delivering further growth in the future.”