FEATURED VIDEO
Sponsored By:
SLIDE SHOWS
As if they needed more stress, organizations are facing evolving and increasingly stringent compliance regulations from the Payment Card Industry, as well as Sarbanes-Oxley, HIPAA and others. Here are a few security compliance products that can make the audit process less excruciating.
Here are 10 of the distributor's hottest new offerings winning over solution providers.
New smartphones from Sony, Motorola and the first-ever Twitter-only mobile device -- the TwitterPeek -- headline a busy week for handset makers as the holiday shopping season heats up.
INSIDE CHANNELWEB

Caritor To Buy Keane In $854 Million Deal


CRN logo By Jennifer Lawinski, ChannelWeb

3:15 PM EST Wed. Feb. 07, 2007
Continuing a wave of solution provider consolidation, global IT services firm Caritor said Wednesday it's acquiring IT outsourcer Keane for about $854 million in cash.

The deal is expected to close by the end of the second quarter, said Veronica Kibo, a spokeswoman for Boston-based Keane. Keane shareholders will receive $14.30 per share in cash, 19 percent more than the value of the company's stock at Tuesday's market close. The new company will be privately held.

Plans call for the two companies to combine under the Keane name. The merged company will have its global base in San Ramon, Calif., Caritor's current home, and its U.S. headquarters in Boston, as well as offices in Australia, Canada, India and the United Kingdom.

Mani Subramanian, chairman and CEO of Caritor, will head the combined company, which is expected to have more than $1 billion in annual revenue.

"As a private company, combined with Caritor, Keane will be better-positioned to continue to invest in growth, provide new employee opportunities and service its clients," Keane chairman and founder John Keane Sr. said in a statement.

The announcement comes just a couple of weeks after Keane appointed a new CEO, Kirk Arnold.

Arnold replaced Brian Keane, son of the company's founder, who left last year after being accused of sexual harassment by two female employees. In the interim, a three-person team led the company, but one of those executives, Richard Garnick, was fired in the fall. He has sued the company for wrongful dismissal.

 
Channelweb : Promofinder
FEATURED PROMOTIONS
CYA - Cover Your Apps
Cover your customers' apps and earn an additional 20% instantly when selling ARCserve® Backup, XOsoft™ and ERwin® products wi...
More Deals, More Dollars
Make more money with lower minimum deal registration thresholds for ARCserve Backup and XOsoft product deals.
LATEST NEWS >>
November 09, 2009 09:56 AM
November 09, 2009 09:13 AM
November 09, 2009 08:30 AM
November 09, 2009 08:15 AM
November 09, 2009 07:50 AM
RELATED BLOG >>
Photo
The New York Yankees are champions of baseball, but the team's success provides some lessons technology companies would do well to learn.
ADVERTISEMENT




CHANNEL SERVICES >>

techcareers logo Search Jobs:


  

Post Resume|Employers

Recent Post:


Network Engineer
Lawrence Berkeley National Lab seeking Network Engineer in Berkeley, CA
spacer