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October 05, 2006

Top Stories

VODAFONE TAPS EDS, IBM...Vodafone Group PLC has selected EDS and IBM to manage its application development and maintenance services in a global IT outsourcing deal. The mobile phone giant hopes to conclude negotiations and finalize contracts with the two outsourcing partners in the coming weeks. No financial details have yet been announced.

BANTA REJECTS CENEVO TAKEOVER OFFER...Banta Corporation announced that its Board of Directors, in consultation with its financial and legal advisors, has unanimously rejected Cenveo, Inc.'s unsolicited proposal to acquire Banta for $47 per share.

FORMER HEAD OF ACS HR SOLUTIONS JOINS MOTIF AS CEO...John Coker has joined Motif, Inc., a leading provider of business process outsourcing services to Fortune 500 companies, as CEO. Coker will manage Motif’s overall business strategy, key customer relationships and the company’s U.S. operations. He brings to Motif more than 30 years of valuable financial services and benefits administration experience and has held senior management positions at global corporations including Mellon Bank, Fidelity Investments, Prudential Investments & Affiliated Computer Services (ACS).

ACS BUYS SYSTECH INTEGRATORS...Affiliated Computer Services, Inc. has acquired Systech Integrators, Inc., an information technology (IT) solutions company offering an array of SAP services. The terms of the acquisition specify a purchase price of $65 million plus contingent payments based on future financial performance. The transaction will be funded with a combination of cash on hand and borrowings under ACS' existing credit facility.

KEANE FIRES TOP EXECUTIVE...Keane, Inc. announced that Richard S. Garnick, President of North American Services and Global Business Lines and a member of the company's Office of the President, has been dismissed for cause and has left the company.

KELLY SERVICES INCREASES JAPAN STAKE...Kelly Services, Inc. announced its purchase of the ownership share of Sony Corporation in Tempstaff Kelly, a tri- party joint venture with Tempstaff, the second largest staffing company in Japan, Sony Corporation and Kelly Services. With the purchase of Sony Corporation's 40 percent ownership share, Kelly will increase its ownership interest to 49 percent effective October 2, 2006. Financial terms of the agreement were not disclosed.

PEROT SYSTEMS, RHODE ISLAND BLUE CROSS MODIFY CONTRACT...Blue Cross & Blue Shield of Rhode Island (BCBSRI) and Perot Systems have agreed to modify their current agreements to discontinue the LRSP replacement project in its present form. Perot Systems will continue work on the business process and the information technology outsourcing, which represents the vast majority of the work it does for BCBSRI.

Posted by jbowles at October 5, 2006 09:49 AM