Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

DealNet Capital's BPO Unit Inks Deal With "Growing Canadian Payments Processor"

DealNet Capital Corp. (CNSX:DLS) says that its business process outsourcing (NYSE:BPO) subsidiary, OC Communications Group (OCCGI), has been awarded a new program with what it called a "growing Canadian payments processor".

DealNet, which entered the heating, ventilation and air conditioning (HVAC) market last year, is working to leverage its BPO unit to provide a better customer experience for its One Dealer subsidiary, which offers financing and other services to HVAC dealers and their customers.

Under the new program announced for the OC Communications unit today, the BPO subsidiary will be providing customer acquisition services in a business-to-business environment, offering opportunity sourcing and account adjudication services. According to the terms of the three-year agreement, the BPO unit will be the "virtual extension", said DealNet, of the client providing services out of the Toronto office.

There is also the opportunity to service the processing demands of the client from DealNet's Reno, Nevada side, it said Thursday.

DealNet also said it is in discussions with the client to provide payment processing terminals and services at "preferred pricing" to its One Dealer subsidiary, which provides a service offering that includes HVAC equipment financing, wholesale product supply, logistical support and marketing services.

"OCCGI is proud to be able to strategically build and diversify our customer base with quality programs that deliver long term value to our customers," said COO of DealNet, Michael Hilmer, who is also the chief executive of the OC Communications unit.

"These wins are a great fit for OCCGI as they enable customers to leverage our significant economies of scale."

DealNet Capital has been working to expand its platform and services, announcing at the end of last month that its One Dealer subsidiary managed to secure a proposal for underwriting capital of $12 million from an unnamed Canadian bank for the consumer financial services arm of the business. At the time, the parties were working to finalize the agreement "as soon as practical".

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.