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October 19, 2006
Top Stories
CLIENT LOGIC, SITEL TO MERGE...ClientLogic and SITEL, both leading global business process outsourcing providers, have entered into a definitive merger agreement. Under the terms of the agreement, a newly formed subsidiary of ClientLogic will merge with SITEL and pay $4.05 per share in cash for all of the outstanding common stock of SITEL. The transaction values SITEL at approximately $450 million.
GENPACT NAMES HEAD OF MEDIA SERVICES JOINT VENTURE...Genpact announced the appointment of Ricky Bindra as the CEO of the recent Genpact- NDTV joint venture, NGEN Media Services. In his new role, Bindra will be spearheading the operationalization of a world class delivery organization by building the management, front-end teams and processes.
IBM REPORTS STRONG QUARTER...IBM announced third-quarter 2006 diluted earnings of $1.45 per share from continuing operations, an increase of 54 percent as reported, compared with diluted earnings of $.94 per share in the third quarter of 2005 . Third-quarter income from continuing operations was $2.2 billion compared with $1.5 billion in the third quarter of 2005, an increase of 47 percent. Total revenues for the third quarter of 2006 of $22.6 billion increased 5 percent (4 percent, adjusting for currency) from the third quarter of 2005.
FISERVE ACQUIRES CLAIM RESOLUTION FIRM...Fiserv Health announced the acquisition of Innovative Cost Solutions (ICS), a claim resolution company that negotiates health care claims, specifically from non-network providers. As a new operating company within Fiserv Health Specialty Solutions, ICS will continue to provide services to external customers and other health care payers.
CAPGEMINI, MICROSOFT EXTEND ALLIANCE…Capgemini Group and Microsoft Corp. announced they will extend their longtime alliance with a new agreement and enlist the services of the Sogeti Group, a wholly owned subsidiary of Capgemini and a premier IT services provider.
EDS NAMES VP, TREASURER...EDS has elected Anthony Glasby as vice president and treasurer. Glasby replaces Ron Vargo, who was recently named executive vice president and chief financial officer for EDS. In his new position, Glasby is responsible for all domestic and international treasury activities including pension management, corporate investments, risk management and insurance.
OVERSIGHT WEBINAR ON MANAGING SHARED SERVICES CENTERS...Oversight Systems Inc. will host a web conference entitled "Continuous Monitoring Moves Shared Service Centers from Good to Great" on held Wednesday, Nov. 1, at 2 p.m. (EST). Oversight Vice President of Business Development Chris Rossie will highlight the challenges of managing shared services centers and introduce technology solutions for continuous monitoring.
Posted by jbowles at October 19, 2006 09:04 AM
