Corporate News
EDS Names Ron Vargo As Chief Financial Officer
Representatives of EDS said the company has named Ron Vargo as executive vice president and chief financial officer effective immediately. Vargo has served as EDS’ corporate treasurer since 2004 and interim co-CFO since March of 2006. Vargo will retain his current duties as corporate treasurer on an interim basis.
Prior to joining EDS, Vargo served as corporate treasurer and vice president of Investor Relations for TRW, Inc. Vargo began his career with General Electric, serving in a number of auditing and financial positions. He advanced through a number of assignments in treasury, business development, and general management at The Standard Oil Company (subsequently British Petroleum) before joining TRW in 1991. Vargo holds an MBA from Stanford University and a bachelor’s degree in economics from Dartmouth College.
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U.S. Army Awards General Dynamics $187 Million Contract for Small Arms Ammunition
The U.S. Army Field Support Command, Rock Island, Ill., has awarded General Dynamics Ordnance and Tactical Systems a $187 million contract modification as part of a $213 million firm-fixed-price contract for production of 5.56mm, 7.62mm, and caliber .50 small arms ammunition. General Dynamics Ordnance and Tactical Systems is a business unit of General Dynamics.
General Dynamics serves as the systems integrator coordinating supply chain management of a consortium of small-caliber ammunition producers. The consortium responds to the U.S. Defense Department’s immediate and growing demand for small-caliber ammunition. Work will be performed in St. Petersburg, Fla.
General Dynamics Ordnance and Tactical Systems is a world leader in the manufacture of large, medium- and small-caliber direct and indirect-fire munitions, mortar weapons and systems, artillery projectiles, bomb bodies and BALL POWDER Propellant. The company also manufactures precision metal components; provides explosive load, assemble and pack services for a variety of munitions, tactical missile and rocket programs; and designs and produces shaped charge warheads and control actuator systems.
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IBM to Acquire Internet Security Systems
Representatives of IBM and Internet Security Systems, Inc. announced Wednesday the two companies have entered into a definitive agreement for IBM to acquire Internet Security Systems, Inc., a publicly held company based in Atlanta, Ga., in an all-cash transaction at a price of approximately $1.3 billion, or $28 per share. The acquisition is subject to Internet Security Systems, Inc. shareholder and regulatory approvals and other customary closing conditions. The transaction is expected to close in the fourth quarter of 2006.
Internet Security Systems (ISS) provides security solutions to thousands of the world's leading companies and governments, helping to proactively protect against internet threats across networks, desktops and servers. ISS software, appliances and services monitor and manage network vulnerabilities and exploits and rapidly respond in advance of potential threats. This acquisition advances IBM's strategy to utilize IT services, software and consulting expertise to automate labor-based processes into standardized, software-based services that help clients optimize and transform their businesses.
This acquisition also reinforces IBM's position in the rapidly growing area of Managed Security Services. With concerns ranging from data theft to implementing and managing increasingly complex regulatory requirements, addressing IT security has become one of the most complex challenges companies are facing, regardless of size, location or industry.
ISS augments IBM's ability to address this growing industry challenge by combining ISS' complementary automated security platform, services, software and expert consultants with IBM's broad security portfolio, innovative research and global reach. Together, IBM and ISS will help clients of all sizes preemptively stay a step ahead of targeted security threats or attacks.
The acquisition is an important addition to IBM's security and privacy services business. ISS' product line and extensive expertise complements IBM's long-standing security research efforts, consulting and managed service delivery capabilities, which currently provide security solutions to the heterogeneous environments of thousands of IBM's clients. ISS will join IBM as a business unit within IBM Global Services' Security organization.
IBM will utilize ISS' X-Force security intelligence service, which proactively protects networks with detailed analyses of global online vulnerabilities and threat conditions. The ISS global network of security operations centers (SOCs), which include sites in Tokyo, Brussels, Brisbane, Detroit and Atlanta, will also be added to IBM's existing global network of SOCs. IBM security consultants and global sales force will also offer ISS' line of security appliances and software, and fully enable it for IBM and third party products, services and solutions.
ISS has more than 11,000 customers worldwide including 17 of the world's largest banks, 15 of the largest governments, 11 of the top public insurance companies and 13 of the world's top IT organizations. ISS also brings to IBM a network of business partners skilled in selling the ISS product line and an expanded product set to the IBM Business Partner channel.
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Yarra Valley Water selects Fujitsu As Strategic IT Outsourcing Partner
Representatives of Fujitsu Australia announced that it has been awarded a seven year AU$21 million (US$16 million) contract with Yarra Valley Water, Melbourne’s largest water retailer, to provide outsourced desktop, network and server management. Fujitsu will also be responsible for the management of Yarra Valley Water’s core enterprise applications, including its customer information and billing system, as well as voice communications.
Under the terms of the agreement, Fujitsu will provide improved service delivery to Yarra Valley Water utilising the ITIL framework and an integrated service desk, using CA’s Unicenter products and Sense and Respond techniques. Fujitsu will also adopt a co-sourcing approach to its relationship with Yarra Valley Water, underpinned by joint governance and a flexible and open approach to commercial management. Fujitsu’s joint governance partnership model will marry Yarra Valley Waters’ expertise and decision process to Fujitsu’s technology investment and service delivery, playing to both companies’ strengths.
Yarra Valley Water is one of Victoria’s leading water retailers, providing water and sewerage services to more than 1.6 million Victorian residents and 650,000 properties in the northern and eastern suburbs of Melbourne, Australia. Yarra Valley Water has approximately 400 employees and is owned by the State Government of Victoria.
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Cisco Systems to Acquire Arroyo Video Solutions
Representatives of Cisco Systems announced Monday a definitive agreement to acquire privately-held Arroyo Video Solutions, Inc., a provider of next-generation solutions for on-demand television and related consumer services.
The Arroyo solution is designed to deliver exceptional scalability, service availability and operational simplicity - offering a highly extensible platform for video-on-demand today and emerging time-shifted services in the future. The integration of the Arroyo platform into the Cisco IP-NGN (Next Generation Network) architectural framework will help enable carriers to accelerate the creation and distribution of network delivered entertainment, interactive media and advertising services across the growing portfolio of televisions, personal computers, mobile handsets and emerging media capable devices in our increasingly connected lives.
Joining Cisco from Arroyo will be an exceptional team of technical industry leaders. This team includes Drew Major, an original founder of Novell and industry icon recognized for his expertise in network operating systems, distributed systems and content delivery networking (CDN). Also joining is Paul Sherer, former chief technology officer at 3Com and key contributor to a broad portfolio of networking patents and technologies. Arroyo was founded in 2002 and has 44 employees based in California and Utah.
Under the terms of the agreement, Cisco will pay approximately $92 million in cash. The acquisition is subject to various standard closing conditions, including applicable regulatory approvals and is expected to close in the first quarter of Cisco's fiscal year 2007, ending October 31, 2006.
Upon close of the transaction the Arroyo team and product portfolio will be integrated into the Cisco Cable & Video Initiatives Group, within the Service Provider organization led by Volpi.
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W. James Farrell Elected to 3M Board of Directors
Representatives of 3M announced August 15 that the Board of Directors elected W. James Farrell, retired chairman, Illinois Tool Works Inc. to the Board of Directors. The board has determined that Farrell is an independent director under the New York Stock Exchange listing standards and the board's independence guidelines. Farrell has been appointed to serve on the board's audit and finance committees.
Farrell served as chairman of ITW, a Fortune 200 diversified manufacturing company, from 1996 to 2006 and chief executive officer from 1995 to 2005.
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Ericsson to Deliver High-Performance Broadband to TOT in Thailand
Ericsson has been selected by TOT Public Company Limited (TOT), Thailand's leading fixed-line operator, to deliver its EDA solution to provide high performance broadband services to subscribers across the country.
With this contract, TOT becomes the first operator in Thailand to deploy IP MSAN (Multi Service Access Node), which will be integrated into the operator's existing nationwide network architecture. This will allow TOT to provide its customers with an ultra-high speed broadband connection of up to 24Mbps.
By deploying an all-IP network, TOT will be able to meet increased subscriber demands for faster speed and superior quality of services in a cost-efficient way and through a future-proof investment.
Under the agreement, Ericsson will provide TOT with a comprehensive portfolio of services, which includes supply, delivery, installation, integration, staff training, testing and commissioning of Ericsson's IP-MSAN for ADSL2+ (Asymmetric Digital Subscriber Line).
Being Ericsson's first IP-MSAN contract with a new customer following the acquisition of Marconi earlier this year, this contract demonstrates Ericsson's strength in offering an integrated broadband network portfolio.
