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September 26, 2007
Top Stories
IBM WINS MAJOR DEAL WITH SCOTIABANK...IBM announced a multi-year agreement valued at $480 million Cdn to manage Scotiabank's information technology operations, including data centers, branches, automatic banking machines and help desk support. Terms of the agreement call for the application of advanced technologies -- such as server virtualization -- and new service delivery capabilities. The contract also includes a new global framework to support Scotiabank's worldwide operations.
COGNIZANT ANNOUNCES DIVIDEND, REPURCHASE PLAN...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. In addition, the Cognizant Board of Directors authorized a share repurchase program of up to $100 million of the Company’s common stock over the next 12 months.
LUXOFT REPORTS STRONG REVENUE GROWTH...Luxoft, Russia’s largest provider of high-end IT outsourcing services and product development announced strong growth in Q1 FY07 across revenues, clients and headcount compared with Q1 FY06. The company has posted double-digit-plus growth each quarter since its formation in 2000. Revenue for the quarter was $27.87M, up from $11.89M, representing a 134-percent increase over Q1 FY2006.
Posted by jbowles at September 26, 2007 05:18 PM
