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August 22, 2007

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ALLIANZ OF AMERICA TAPS IBM...Allianz of America (AZOA), parent of Fireman's Fund Insurance Company and Allianz Life Insurance Company of North America, has signed a $330 million, 7-1/2 year outsourcing agreement with IBM that leverages the combined information technology (IT) infrastructure operations of both companies. The move is expected to save AZOA's two businessesaround 20 percent of their current annual IT infrastructure expenses.

HP THIRD QUARTER FINANCIAL RESULTS UP...HP announced financial results for its third fiscal quarter ended July 31, 2007, with net revenue of $25.4 billion, representing growth of 16% year over year, or 12% when adjusted for the effects of currency. GAAP operating profit was $2.1 billion and GAAP diluted earnings per share (EPS) was $0.66, up from $0.48 in the prior-year period.

UNISYS NAMES CRAIG CONWAY TO BOARD...Unisys Corporation has elected Craig Conway, former president and CEO of PeopleSoft and senior executive at Oracle Corporation, to its board.

ACS RESULTS RISE FOR QUARTER AND FISCAL YEAR...Affiliated Computer Services, Inc., announced fourth quarter fiscal year 2007 revenues of $1.52 billion, a 10% increase compared to the prior year quarter. Adjusted non-GAAP diluted earnings per share was $0.88, a 21% increase over the prior year fourth quarter adjusted non-GAAP diluted earnings per share of $0.73. Fiscal year 2007 revenues were $5.77 billion. Excluding the divestiture of the Welfare to Workforce Services business, total revenue growth was 10% compared to the prior fiscal year. Fiscal year 2007 adjusted non-GAAP diluted earnings per share was $3.12, an 11% increase over the prior year adjusted non-GAAP diluted earnings per share of $2.80.

INFOSYS EXPANDS TO LATIN AMERICA...Infosys Technologies Limited announced the creation of the company’s first Latin American subsidiary, and the opening of the development center and office for the region based in Monterrey, Mexico. The subsidiary, Infosys Technologies S. De RL De CV, provides the company’s full range of business consulting and information technology services for clients

SOFTTEK ACQUIRES CHINA-BASED FIRM...Softtek has completed the acquisition of I.T. UNITED, a leading China-based provider of software development and outsourcing services. With this acquisition, Softtek adds the eighth Global Delivery Center to its network of centers in Mexico, Brazil and Spain. Softtek has gained a strong reputation in the IT & BPO global sourcing industry through its trademarked Near Shore model, which pairs world-class execution with global proximity to fill the gap left by India-centric outsourcing models.

Posted by jbowles at August 22, 2007 02:12 PM