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July 23, 2008

Top Stories

CONVERGYS POSTS SECOND-QUARTER INCREASE...Convergys Corp. posted second-quarter net income of $40.5 million, or 32 cents per share, up from $38.8 million, or 28 cents per share in the year-ago quarter. Revenues fell to $689.5 million from $707 million. For the first half of 2008, Convergys reported net income of $76.4 million, or 60 cents per share, versus $82.4 million, or 59 cents per share, in the same 2007 period. Revenues were down slightly, to $1.4 billion from $1.43 billion. The company said it expected full-year consolidated revenues at the lower end of its forecast of $2.85 billion to $3 billion, and earnings per share of $1.15 to $1.20.

LUXOFT ACQUIRES ROMANIAN OUTSOURCER...Luxoft, a global provider of high-end application and product development services, has acquired Bucharest-headquartered ITC Networks (ITCN), a leading Romanian software outsourcing provider specializing in the telecommunications industry. The combined company will have more then 3000 employees worldwide and an annual revenue run rate of over $150 million.

IBM OPENS EXCELLENCE CENTER IN PUNE...IBM has opened the IBM Service Management Center of Excellence in India which will act as the regional hub for IBM Tivoli service management software and strategy. The Center has been designed to develop specialized focus and skills in high value areas such as telecom, security, automation and asset management. This first of its kind Center has been established in Pune.

WNS DEAL WITH AVIVA (Corrected) ...WNS (Holdings) Limited (NYSE: WNS), a leading provider of global business process outsourcing (BPO) services, has entered into a transaction with Aviva, the world’s fifth largest insurance group with $95 billion revenue in 2007 to acquire Aviva’s offshore operations which run a number of its critical business processes for approximately £115 million ($228 million), subject to adjustments for cash and debt. Under agreement, which is of eight years and four months’ duration, WNS will be the long-term strategic BPO services provider to Aviva’s UK, and Canadian businesses--a deal that WNS estimates could generate approximately $1 billion in revenues over the life of the contract.

EVEREST RESEARCH SCHEDULES MSA WEBINAR...The Everest Research Institute will host a Webinar to discuss Master Service Agreement (MSA) and Service Description design for outsourcing engagements, why the MSA and Service Description structure is preferred, and best management practices that enable clients and suppliers flexibility when business needs change. The Webinar will be held on July 29 at 10 a.m. CDT. To register, please visit www.everestresearchinstitute.com/Events/Webinars.

Posted by jbowles at July 23, 2008 07:22 PM