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October 25, 2006
Top Stories
CAPGEMINI BUYS KANBAY FOR $1.25 BILLON...Capgemini will buy Kanbay International, provider of technology services to financial institutions, for $1.25 billion in a bid to boost its presence in India and the U.S. Under the acquisition deal, Paris-based Capgemini will pay $29 per share in cash for the U.S. consultancy. With the purchase, India becomes the second-largest operation for Capgemini, after France. Kanbay, which has three sites in India, employs more that 5,000 people.
STARBUCKS BREWS DEAL WITH UNISYS...Starbucks Corporation, the world’s leading specialty coffee company, has selected Unisys as its IT infrastructure services partner to simplify the deployment and management of standard IT infrastructure services used in international Starbucks retail stores, support centers, and manufacturing facilities. These services will deliver enhanced support to Starbucks as it expands its presence from over 3,600 to 20,000 stores in international markets.
CAPGEMINI TRANSFERS NIS OPERATIONS TO BT...Capgemini is transferring a substantial portion of the company’s European Networking Infrastructure Services (NIS) operations to BT. BT will engage approximately 250 of Capgemini’s NIS employees in Europe, including the UK and Spain. The company will provide NIS services to Capgemini customers, supplementing transferred Capgemini employees with BT staff.
CONVERGYS REPORTS STRONG QUARTER...Convergys Corporation reported its strongest quarter in three years with record quarterly revenue of $702.7 million, up 9 percent over the prior year. Earnings were $0.32 per diluted share, up from $0.30 in the prior year. Net income increased 7 percent to $45.2 million, or $0.32 per diluted share, versus $42.4 million or $0.30 per diluted share in the prior year. The company increased its 2006 EPS guidance increased to $1.15.
LIONBRIDGE EXPANDS OFFSHORE OPERATIONS...Lionbridge Technologies, Inc. is opening a new office in Shanghai and expanding its globalization, testing and development operations in Beijing; Mumbai, and Chennai, India; Warsaw; and Zilina, Slovakia.
EDS OFFERS TO BUY REST OF MPHASIS SHARES...EDS announced in India an open offer to acquire an additional 20 percent of MphasiS BFL Limited for Rupees 204.5 per share in cash. At current exchange rates, the total purchase price for this offer, assuming full acceptance, is approximately US$150 million. EDS expects this transaction to be completed by early first quarter 2007.
CHINA OUTSOURCING FORUM...The New England China Information and Networking Association (NECINA)is presenting on Friday, November 3, 2006, 8:00am - 12:00pm at the DoubleTree Hotel in Waltham, MA "China Outsourcing Forum," the first ever business forum in North America focused on the fast-growing Chinese ITO and BPO industry. Hear first-hand China outsourcing experiences from senior executives at State Street and Darwin Partners. Learn the latest trends and best practices from leading professionals at AMR Research and WilmerHale. Network with senior executives from the top 20 Chinese outsourcing vendors. For more information and to register, visit http://www.chinaoutsourcingforum.org/
Posted by jbowles at October 25, 2006 07:36 PM
