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Official Seeking Alpha profile of Infinit-O. We are an outsourcing company that boasts of a bespoke package of solutions tailored to your business. Learn more about us at http://www.infinit-o.com/
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  • Notable Deals of June and July 0 comments
    Aug 29, 2010 10:26 PM | about stocks: ACN, AV, HPQ
    By Audrey B.

    New deals and renewals in the IT outsourcing space dominated the news last June and July, but other industries also fared well.  In terms of companies, it was company, Accenture (NYSE:ACN), who was able to score multiple deals, signing contracts mostly from the US but also in the UK and China.  Other companies, such as HP, also signed multiple deals.  Here’s a run-down of the notable deals signed last June and July 2010.

    In the US, Accenture signed on the 3rd of June, a contract with the US Department of the Navy for an indefinite delivery/indefinite quantity (IDIQ) contract to provide financial management services.  The contract is for a one year base period with four one year options, which will gain Accenture approximately $181 million.  Following that, on the 14th of June, Accenture signed a contract with Henkel to deliver application management services for their North American operations.  According to the press release, the contract was written to complement an existing seven year global application maintenance and support agreement last August 2009. A day later and Accenture successfully signed another government contract, this time with the US Internal Revenue Service (IRS) with a term of five years.  The company will be designing, implementing and operating the Return Preparer Registration (RPR) System for the IRS.

    Following that, on the 8th of June, Accenture successfully signed an eight year $30 million contract with the Hong Kong Housing Authority to design, develop and maintain an Enterprise Resource Management (ERP) system which will be deployed in two phases over a three year period and; lastly, on the 28th of June, the company signed an infrastructure outsourcing agreement for a duration of seven years with Aviva’s (NYSE:AV) property claims repair service, Asprea.  Then on the 1st of July, Accenture signed a five year business process outsourcing agreement with international energy company Statoil, for the management of accounts payable processes.

    IT outsourcing company, HP meanwhile, reported on the 14th of July that they have signed an application services contract with 3M.  The multimillion dollar contract is for the duration of three years and will involve the development and management of 3M’s applications portfolio.  Aside from that, HP also signed an agreement with car company, General Motors a week later on the 21st of July, wherein HP will provide the automaker with applications development and management services, as well as service desk and site support services.  The contract is valued at more than $2 billion.

    Lastly, on the 27th of July, Irish company Petrogas signed a multiyear contract with ExlService Holdings. Under the agreement, EXL will provide finance and accounting services to Petrogas, who is the largest independent forecourt operator in Ireland.




    Disclosure: No Positions
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