According to a study on Finance and Accounting Outsourcing (FAO) segment conducted by FAO Research, there has been a 40 percent increase in the number of FAO contracts signed in 2005, as compared with 2004. Further, by the end 2006, an additional 60 percent growth is expected in the number of FAO contracts signed, as compared to 2005. The report reveals that 67 long-term, multi-process FAO agreements have been signed in the past two years, with 39 of them in 2005 and 28 in 2004. Accenture and Capgemini have acquired a majority of the new contracts. Other major providers mentioned in the report are IBM, Progeon, ACS, Genpact, Xansa, EDS, HP, EXL Service, and WNS. The study includes contracts, which are worth above USD 50 million with terms ranging from three to ten years.