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July 05, 2007
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CSC COMPLETES COVANSYS ACQUISITION...Computer Sciences Corporation has completed its acquisition of Covansys for $34.00 per share in an all-cash transaction. The announcement follows approval of the acquisition by the holders of a majority of the outstanding Covansys shares at a shareholder meeting June 27. Covansys will operate as a separate business unit of CSC and will now be known as Covansys, a CSC Company. Raj Vattikuti will continue to lead this new business unit and will report directly to CSC President and Chief Executive Officer Michael W. Laphen.
ACCENTURE REPORTS STRONG THIRD QUARTER...Accenture reported strong financial results for the third quarter of fiscal 2007, ended May 31, with record net revenues of $5.08 billion, a year-over-year increase of 15 percent in U.S. dollars and 9 percent in local currency. Consulting and outsourcing revenues both grew by double digits in U.S. dollars for the third consecutive quarter and were also quarterly records. GAAP diluted earnings per share were $0.54, compared with $0.56 in the third quarter of fiscal 2006. EPS of $0.54 represent an increase of 8 percent over adjusted EPS of $0.50 in the third quarter last year.
EDS REVAMPS $310 MILLION DEAL WITH AUSTRALIAN BANK...EDS has strengthened its relationship with the Commonwealth Bank of Australia after significantly revamping a $US310 million service-based contract to deliver desktop and other end-user computing services for the next five years and is focused on significantly enhancing business outcomes through improved service delivery. The deal follows last year's $US350 million signing of a new master IT&T Agreement involving Enterprise Processing Services (EPS) for mainframe, midrange and data storage until 2012.
UNISYS TEAMS WITH BT...Unisys Corporation has signed an agreement with BT to provide network monitoring and management services as part of outsourcing engagements for Unisys clients worldwide. The agreement makes BT network monitoring and management services a key part of Unisys IT outsourcing solutions. Unisys will implement these BT network services in its portfolio of managed network solutions for its global client base. This new arrangement is intended to afford each company new business development opportunities.
EDS COMPLETES ACQUISITION OF RELQ SOFTWARE...EDS has completed the acquisition of RelQ Software Private Limited, a Bangalore, India-based software testing company. RelQ will be fully integrated into EDS' global testing organization. All of RelQ's more than 700 employees in India, the United Kingdom, the United States and France are expected to become part of EDS' global testing organization. Financial terms of the transaction were not disclosed.
MOTIF NAMES FORMER MCKINSEY EXEC TO BOARD...Motif Inc has named former McKinsey & Co senior executive Robert Kaplan to its board of directors. Kaplan, who has been a senior executive and management consultant for the past 30 years, will now serve as an advisory member to the board of Motif, which provides BPO services to Fortune 500 companies, and has operations in Morristown at NJ in USA, Ahmedabad in India and Manila in Philippines. Kaplan spent ten years with McKinsey & Company as senior partner, leading their information technology and systems practice. Prior to that, he was managing partner at the Boston Consulting Group where he worked for eleven years. He has also worked with KPMG as a systems consultant.
OPI NAMES MD...Outsource Partners International, Inc. has appointed Kevin Dougherty, as Managing Director. Dougherty will oversee relationship management and service delivery at select clients throughout North America. Dougherty brings to OPI twenty-five years of experience providing consulting and professional services at global companies. He will be based in OPI’s Dulles, Virginia office and will report directly to Clarence T. Schmitz, OPI’s Chairman & CEO.
Posted by jbowles at July 5, 2007 12:59 PM
