SP500: CGI Bids For Logica; ePlus Restates Financials12:00 PM EST Wed. Jun. 06, 2012
One way for North America's largest solution providers to make headlines is by bidding to buy a competitor as part of a geographic expansion effort. Other members of the Solution Provider 500 also managed to attract attention this week, one with key executive appointments, one by offering a 'Lite' version of its software through the cloud, and one by providing extensive security training. In addition, a top 50 solution provider will be restating financial results.
CGI Group made an offer to buy Logica PLC, a business and technology services consulting and outsourcing company, for $2.6 billion. The deal would significantly expand CGI's geographic reach, providing access to Europe and Asia. If completed, analysts said the Logica acquisition would be another bold move for CGI, following its August 2010 acquisition of Stanley Inc., an IT services and solutions provider to the federal government, for $1.1 billion.
CSC made some appointments to its senior management team. David Zolet was named president, North America Public Sector (NPS). He will oversee NPS operations focused on strengthening cost and profit management disciplines and will report to CEO Mike Lawrie. Gary Budzinski was named president, global infrastructure services. Budzinski joins CSC from Hewlett-Packard where he was senior vice president and general manager for HP’s $12 billion technology services business unit. He also will report directly to Lawrie. Sunita Holzer was named chief human resources officer and will join CSC later this month. She, too, will report directly to Lawrie.
Accenture CAS Lite is a new, preconfigured version of the company's CAS software platform that offers consumer goods companies many of the advantages of the Accenture CAS software platform, with a fast implementation and lower total cost of ownership. Accenture CAS Lite is offered through the cloud on a Software-as-a-Service (SaaS) basis. Since it's preconfigured and has a streamlined implementation methodology, there are no requirements for design, build and customization. Clients can be up and running quickly with a standardized version of the software.
ePlus will restate its consolidated financial statements for the fiscal years ended March 31, 2010 and 2011, and the quarterly financial statements for the three quarters ended June 30, Sept. 30, and Dec. 31, 2011 and all of the quarters in the fiscal year ended March 31, 2011. ePlus' restated financials will report revenue from the sale of third-party software assurance, maintenance and services on a net basis rather than on a gross basis, as previously reported. According to the solution provider, this correction should have no effect on its previously reported earnings, earnings per share, or consolidated statements of cash flows.
FishNet Security will be presenting Information Security Warrior Authorized Training (iSWAT) courses and certification at the Hard Rock Hotel in Las Vegas on Sept. 17-21. It is to be the largest multivendor training event held by the security solution provider. Security training is a top priority for IT professionals, according to FishNet Security's Survey of Security and Data Breach Trends for 2012, which found that more than one-third (34 percent) of respondents expect security training to be the main area of security services investment this year, followed by security consulting (26 percent) and mobile security (24 percent).