LOGIN
REGISTER
NEWSLETTER
RSS
SOFTWARE INDUSTRY NEWS |
Convergys sells HR management to NorthgateArinso |
|
|
Convergys said it inked a definitive agreement to sell its Human Resources Management (HRM) line of business to NorthgateArinso, a company that provides human resources software and services, for approximately $85 million in cash at closing and $15 million in cash over three years.  NorthgateArinso has its headquarters in the UK and has offices in 31 countries. It delivers services in over 70 countries through a network of eight service delivery centers. NorthgateArinso's has approximately 5,000 staff members, and is reported to have over 20 percent of the FORTUNE Global 500 companies amongst its clients. Convergys' statement said the company ranks amongst the five largest HR service providers in the world.  Convergys and NorthgateArinso said the transaction represents “a unique opportunity” for Convergys' HRM clients and employees of the division to be part of “a larger, dynamically focused entity with a strong record of accomplishment in the HR services business.” NorthgateArinso, according to Convergys' statement, will offer employment to the approximately 2,300 employees of Convergys' HRM line of business. The transaction is expected to close in the second quarter and is subject to customary approvals. Jeff Fox, president and CEO of Convergys said the transaction provides an opportunity for the company “to focus our investments and efforts on growing our Customer Management and Information Management businesses.” Convergys said to account for the impact of the sale of the HRM business, it would remove revenues of around $250 million from its 2010 guidance. It is also removing $20 million in earnings before interest, taxes, depreciation, and amortization (EBITDA) and the $0.10 earnings per share (EPS) as an impact related to the HR Management line of business. Convergys revised guidance for full year 2010 results from continuing operations now counts customer management revenues of approximately $2 billion and Information Management revenues of approximately $350 million. Its revised EBITDA is between $310 million to $340 million, and earning per share of $0.95 to $1.10. The company now expects free cash flow to exceed $150 million, plus an additional cash distribution of approximately $40 million from the Cellular Partnerships. |
LISTS AND RESEARCH
-
Global Software Top 100 - Edition 2011
- The Global Software Top 100 is a list of the world's largest software companies, ranked by annual software revenues. The list is based upon revenue information of 10,000+ IT companies worldwide.
-
Software industry trends (2011)
- This research article (accompanying the Global Software Top 100) describes changes in the software industry playing field. It analyses trends and key players and forecasts future developments.
- Top hardware companies
- A list of the world's largest hardware companies.
- What happens in the hardware industry?
- Trends and analysis of the hardware industry and its key players.
- Top IT services companies
- A list of the world's largest IT services companies, ranked by annual services revenues. This link will take you to www.servicestop100.org.
- IT services companies: healthy growth
- What is happening in the IT services industry? Read this research publication to find out about trends and key players in the IT services industry.
- Top gaming companies (2010)
- Entertainment is good business, and gaming software companies are growing faster than the rest of the software industry. This research article discusses trends and key players in the gaming business.
- Top ERP companies
- A research publication about the world's leading players in enterprise software.
- Top security software companies
- A research publication discussing the world's leading publishers of security software: antivirus-, spamfiltering-, intrusion detection- and firewall software.
- The fastest growing software companies
- This research publication reveals the fastest growing software companies in the world.
-
CRM companies: a short list
- A short list of the leading software companies selling Customer Relationship Management software; aimed at IT managers looking to purchase CRM software.
- Top software companies in the US (2010)
- A list of the largest software companies in the United States, ranked by annual software revenues. 2010 Edition, posted 15 December 2010.
- U.S. software industry trends (2010)
- A research publication discussing the trends and the key players in the software industry in the United States. Posted 15 December 2010.
- Top companies in the world (not just software)
- A general list of the largest companies in the world, ranked by revenues. Not just software companies; in fact, there are no software companies in it...
- Top IT companies
- A list of the largest IT companies in the world, ranked by annual revenues. Includes hardware, software and services.
