Thursday, March 02, 2006

Perot Systems Acquires eServ LLC

The acquisition launches Perot Systems’ expansion into outsourced engineering services, broadening the company’s suite of BPO services for the automotive, manufacturing and industrial-services segments .

Perot Systems Corporation (NYSE: PER) today announced that it has acquired eServ, LLC, a leading provider of high-end product engineering outsourcing services, for $21 million in cash, plus up to $7 million more if certain performance targets are met. The acquisition launches Perot Systems' expansion into outsourced engineering services, broadening the company's suite of BPO services for the automotive, manufacturing and industrial services segments.

"eServ is an excellent strategic fit for Perot Systems because of the company's depth of industry expertise, customer base, and the strong cultural fit,"
said Dave Sanders, Perot Systems vice president and Commercial Solutions group leader.
"We will now be able to provide high quality, cost-effective outsourced engineering services in addition to our range of applications, consulting, infrastructure and business process solutions."

eServ, located in Peoria, Illinois, provides product engineering services to leading industrial and manufacturing companies. The company reported 2005 revenue of $24.7 million, an increase of 58 percent over the previous year. In addition to its Peoria headquarters, eServ has offices in Rock Island, Illinois and Chicago, Illinois.

"eServ is very proud of its achievements, which includes an average annual revenue growth rate in excess of 50 percent since our inception in 1999," said James Richmond, chief executive officer of eServ.
"By joining the Perot Systems family, we can bring our customers end-to-end business solutions, and add a global dimension to our capabilities to achieve faster time-to-market, reduced costs and increased revenue for our existing and future customers."

By acquiring eServ, Perot Systems enhances its cornerstone outsourcing capabilities to the automotive, manufacturing and industrial customers. The company can now help customers gain a competitive edge by providing highly- skilled, fully-trained engineers delivering complete product engineering services at a faster rate and at a lower cost.

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