« New Business | Main | Advertising Information »

October 31, 2007

Top Stories

WILLIAMS LEA SIGNS BILLION DOLLAR DEAL WITH READERS DIGEST...Global Corporate Information Solutions provider Williams Lea has entered into a multi-year exclusive partnership with The Reader’s Digest Association, Inc. (RDA), the world’s largest global publisher and direct marketer. The relationship represents a managed cost base of more than $1 billion over the contract duration and will see Williams Lea deliver outsourced print procurement and marketing solutions to RDA’s operations in 19 countries across the United States and Canada, Europe, Middle East, Asia Pacific and Latin America.

CSC ACQUIRES FIRST CONSULTING GROUP...Computer Sciences Corporation will acquire First Consulting Group (FCG) in an all-cash transaction for $13.00 per share, or approximately $365 million. The transaction is expected to be neutral to reported CSC earnings and accretive to free cash flow within the first 12 months. Headquartered in Long Beach, Calif., FCG provides information technology services and products to health delivery, health plan and life sciences organizations. FCG has approximately 600 employees located in Bangalore, India providing application development and support and business process outsourcing services. There are approximately 580 employees located in Ho Chi Minh City, Vietnam serving healthcare clients and independent software vendors with software development capabilities.

CERBERUS WITHDRAWS ACS OFFER...The Dallas News reports that Cerberus Capital Management officially withdrew its $6.2 billion offer for Affiliated Computer Services Inc. on Tuesday. Cerberus made its first offer on March 20, in conjunction with ACS founder and chairman Darwin Deason, who controls about 2 percent of ACS shares.

CONVERGYS EPS ON TARGET...Convergys third quarter revenues were $703.7 million. Operating income of $63.0 million increased 8 percent from the previous quarter and compared to $69.7 million in the same period a year ago. Net income of $41.8 million increased 8 percent from the previous quarter and compared to $45.2 million in the same period a year ago. Earnings were $0.30 per diluted share compared to $0.28 per diluted share in the previous quarter and $0.32 per diluted share in the same period a year ago.

PEROT SYSTEMS THIRD-QURTER REVENUE UP...Perot Systems Corporation announced that third quarter 2007 revenue was $655 million, an increase of 12% year-to-year over third quarter 2006 revenue of $583 million. Earnings per share (diluted) was $.20.

ACS APPOINTS HEAD OF F&A OUTSOURCING...Affiliated Computer Services, Inc. has appointed Ron Gillette senior managing director, finance and accounting (F&A), to lead and transform its global F&A outsourcing (FAO) business. His focus will be on standardizing the company's F&A processes and management to enable rapid growth in the expanding FAO market. He reports to Ann Vezina, president of the company's Commercial Solutions Group.

Posted by jbowles at October 31, 2007 04:50 PM