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Bank of America Selects SAP
Bank of America has selected SAP enterprise resource planning software to run the bank's internal financial reporting systems.
The companies said in a joint announcement that SAP's ERP platform will provide Bank of America with a global operating system "to improve efficiency and support continued growth."
Financial details were not disclosed.
United Online Bids for Florist FTD
United Online, looking to make a significant addition to its collection of Internet companies, agreed to acquire FTD Group for about $456 million in cash and stock.
If approved by stockholders, the Woodland Hills, Calif.-based company would add FTD to a consumer Internet portfolio that includes Classmates.com, MyPoints, NetZero, and Juno.
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"This transaction will meaningfully diversify our revenue base within a large global market experiencing significant migration to the Internet," United Online chief executive Mark Goldston said in a statement announcing the merger agreement. "Our proven expertise in implementing marketing initiatives to drive results should enable us to leverage the FTD brand and bring FTD products to United Online's over 50 million consumer accounts."
United Online had $513 million in sales in 2007 and employs about 950.
CSC Signs $399 million Deal With Zurich Financial
Computer Sciences Corp. (CSC) has signed a global desktop services outsourcing contract with Zurich Financial Services Group valued at $399 million. The companies said the deal is for six years, with a two-year extension option.
Under the contract, CSC will assume responsibility for the provision of Zurich's electronic Workplace (eWP) desktop services to its businesses in the U.S., Canada, the United Kingdom, Switzerland, Germany, Italy and Spain. The scope includes global service desk, local on-site support and software packaging and distribution to approximately 51,000 users.
IBM Acquires Infodyne
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IBM announced it has signed a deal to acquire InfoDyne, a privately held software company based in Park Ridge, Ill., for an undisclosed sum.
InfoDyne specializes in high-speed platforms and data feed connectors that allow brokerages and trading firms to access market data and process transactions in high volumes. The acquisition is part of a strategy by IBM to offer a portfolio of industry-specialized software for real-time processing of market data. In January, IBM acquired AptSoft for its "complex events" processing technology—software that analyzes vast amounts of events in real time, searching for trends and anomalies.
Compiled by Mel Duvall,
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