In other IT news, human resources outsourcing provider Arinso International NV boasted increased profits and CDC’s acquisition of Pivotal neared completion.
Arinso International, the Belgium-based outsourcer has reported annual sales up 8% at 130.4m euros ($164.5m) with net profit up 89% at 6.2m euros ($7.8m). For the fourth quarter the company made sales of 36.8m euros ($46.4m), up 17% on the year-ago figure with net profit rising to 1.9m euros ($2.4m) from 395,000 euros ($498,000), mainly as the result of a lower tax bill.
Arinso won some major HRO contracts in the second half. In November it was selected by Affiliated Computer Services to be the main subcontractor to implement a new pan-European PeopleSoft HR system for its deal with General Motors Corp which is one of the largest ever HRO projects in Europe. Arinso’s slice is worth 90m euros ($113.5m). In December 2003 it extended its deal with Shell to install its HR systems.
In other news, the unexpected bidding war that erupted over Pivotal Corp at the end of last year is coming to a peaceful conclusion, with shareholders voting to access the offer from CDC Software, a division of Chinadotcom Corp.
At the much rescheduled emergency general meeting, Pivotal shareholders and option holders voted to support the bid whereby those who deposited their shares were entitled to elect to receive either $2.14 per share made up of a cash payment of $1.00 plus $1.14 of CDC shares or $2.00 in cash.
This article is based on material originally published by ComputerWire