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August 08, 2007

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WIPRO TO ACQUIRE INFOCROSSING...Wipro Technologies, the global IT services business of Wipro Limited and Infocrossing, Inc., a US-based provider of IT infrastructure management, enterprise application and business process outsourcing services, announced that the companies have signed a definitive agreement for Wipro to acquire Infocrossing for $18.70 per share in an all cash deal that will create one of the world leaders in end-to-end IT infrastructure management solutions. The acquisition will be conducted by means of a tender offer for all of the outstanding shares of Infocrossing, followed by a merger of Infocrossing with a Wipro subsidiary. The tender offer is subject to a number of customary closing conditions, including regulatory approvals, and is expected to close by the fourth quarter of 2007.

FISERV TO ACQUIRE CHECKFREE...Fiserv, Inc., a leading provider of technology solutions, and CheckFree Corporation, a leading provider of financial e-commerce services and products, have entered into a definitive agreement whereby Fiserv will acquire CheckFree in an all-cash transaction valued at approximately $4.4 billion. Under terms of the agreement, CheckFree shareholders will receive $48.00 in cash for each share of common stock.

DARWINSUZSOFT CLOSES $48 MILLION FINANCING ROUND...DarwinSuzsoft, the leading U.S. IT services firm for outsourcing to China, has closed a $48 million round of financing led by Francisco Partners, one of the world’s premier technology-focused private equity firms. This is the first round of outside funding in the company’s 20-year history and one of the largest investments ever for an American IT outsourcing firm in China.

PAYCHECK SETS BILLION DOLLAR BUYBACK...Paychex, Inc. will commence the repurchase of up to $1.0 billion of the Company’s common stock in early August 2007. On July 12, 2007, Paychex announced the stock repurchase program and declared a 43% increase in the company’s regular quarterly dividend. The dividend increased from $.21 per share to $.30 per share, payable August 15, 2007 to shareholders of record August 1, 2007.

PEROT SYSTEMS NAMES COO...Perot Systems Corporation announced that Chief Financial Officer Russell Freeman will be promoted to chief operating officer. John Harper, currently vice president and director of corporate development, will become chief financial officer. In addition, Peter Altabef, president and CEO, will expand his responsibilities and join the executive committee of the board of directors. The moves will become effective August 15.

EVEREST GROUP OPENS AMSTERDAM OFFICE...Everest Group announced the opening of an office in Amsterdam to meet the needs of its growing continental European client base. The Amsterdam location is a natural progression for Everest as the company supports the extensive growth of European corporations’ adoption of outsourcing solutions including Business Processing Outsourcing (BPO), Information Technology Outsourcing (ITO), Human Resource Outsourcing (HRO) and Finance & Accounting Outsourcing (FAO).

Posted by jbowles at August 8, 2007 06:51 PM