« New Business | Main | Advertising Information »

September 19, 2007

Top Stories

EDS WINS $800 MILLION HOMELAND SECURITY CONTRACT...The Associated Press reports that Electronic Data Systems Corp. won an $800 million contract from the Homeland Security Department to run a major data center. No other public announcement was made by either the company or the department. The terms of the deal include a 10-month base term with five one-year options, plus an additional two-year option to extend the length of the contract.

WIPRO COMPLETES INFOCROSSING DEAL...Wipro Limited announced the completion of the tender offer by its indirect wholly-owned subsidiary, Roxy Acquisition Corp., for all outstanding shares of Infocrossing, Inc. at a price of $18.70 per share in cash. The tender offer expired at 11:59 p.m., New York City time, on Monday, September 17, 2007.

NOMINATIONS OPEN FOR OUTSOURCING EXCELLENCE AWARDS...Nominations are being accepted for the annual Outsourcing Excellence Awards, sponsored by Outsourcing Center, Everest Group, and Forbes magazine. Known as the “Oscars” of Outsourcing, the program was founded in 1997 and honors the most distinguished outsourcing relationships worldwide. Previous award winners include many of the world’s leading companies in every industry and demonstrate the importance of outsourcing in their strategies for business success. A list of all winners since 1997 is displayed at www.outsourcing-awards.com.

To view award guidelines and to obtain a nomination form, please visit www.outsourcing-awards.com. Nominations will be accepted through October 1, 2007. The fee for submitting a nomination is $1,000.

PAYCHEX ACQUIRES HAWTHORNE BENEFITS...Paychex, Inc., a leading provider of payroll and human resource services, announced the acquisition of Hawthorne Benefit Technologies, Inc. and BeneTrac, its online employee benefits management and administration system. Hawthorne, founded in 1999, is based in San Diego, California and now operates as Paychex Benefit Technologies, Inc., a wholly-owned subsidiary of Paychex. BeneTrac’s Web-based benefits enrollment and administration technology provides real-time, 24-hour access for HR administrators and employees.

COGNIZANT DECLARES STOCK SPLIT...Cognizant Technology Solutions Corporation has declared a two-for-one stock split on its capital stock in the form of a stock dividend. Stockholders of record as of October 1, 2007 will be entitled to one additional share of common stock for each share held on the record date. The stock dividend distribution is expected to occur on or about October 16, 2007, and it is anticipated that the company's Class A Common Stock will begin trading on a post-split basis the business day following the distribution date.

ACS NAMES KYSER TO CFO...Affiliated Computer Services, Inc. today announced the promotion of Executive Vice President Kevin Kyser to Chief Financial Officer. In his new capacity, Kyser will lead ACS' finance organization, including the corporate controllership, treasury, tax, investor relations, audit, finance operations and strategic planning and analysis functions for the company's worldwide operations. Since joining ACS in 1997, Kyser has served as Corporate Controller, directed the company's investor relations group, served as CFO of the company's Commercial Solutions Group and most recently served as Executive Vice President of Finance and Accounting. He is a Certified Public Accountant in the state of Texas.

Posted by jbowles at September 19, 2007 07:16 PM