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May 30, 2007
Top Stories
CONVERGYS WINS $1 BILLION DEAL WITH J&J...Convergys Corporation has signed a 10-year agreement with Johnson & Johnson Services, Inc. to provide a variety of human resources (HR) services. Convergys expects this contract to generate revenues of approximately $1 billion over its 10-year duration. This agreement is expected to have a significant impact on Convergys’ revenue and earnings beginning in early 2009.
HP WINS NASA CONTRACT WORTH UP TO $5.6 BILLION...HP has been awarded a seven-year contract worth up to $5.6 billion by the U.S. National Aeronautics and Space Administration (NASA) to provide a wide range of technology as needed by U.S. federal government agencies. HP products to be provided under the indefinite delivery indefinite quantity (IDIQ) contract, called the NASA Solutions for Enterprise-Wide Procurement (SEWP) IV Class 5, include desktops, workstations and blade PCs with Linux and Unix capabilities, servers and printers, among other offerings.
BISYS SETTLES WITH SEC...BISYS has completed its previously disclosed settlement with the Securities and Exchange Commission (SEC) with respect to the SEC’s investigation into its 2004 and 2005 restatements. The company has agreed, without admitting or denying any wrongdoing, to refrain from future violations of the reporting, books and records and internal control provisions of the federal securities laws and related SEC rules and, as previously disclosed, will pay $25.1 million in disgorgement and prejudgment interest. The settlement concludes the SEC’s investigation of this matter with respect to the company.
FISERVE TO SELL INVESTMENT SUPPORT SERVICES...Fiserv, Inc. has signed definitive agreements to sell its Fiserv Investment Support Services (Fiserv ISS) operations in two separate transactions. The transactions, which are subject to customary conditions and regulatory approvals, are expected to close by the end of the year, or earlier, depending on regulatory approvals. Fiserv ISS manages nearly 300,000 retirement and custodial accounts valued at $46 billion.
Posted by jbowles at May 30, 2007 08:08 PM
