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'Business
continuity briefs' provides a summary of new product and services
press releases and other useful resources published in the last
24 hours.
The announcement in the draft Queen’s Speech that the UK government plans to consult on a draft floods and water bill, following publication of the Pitt Review into last summer’s floods, shows that the government is recognising the scale of what needs to be done says the Association of British Insurers. Stephen Haddrill, the ABI’s Director General, said: “We are pleased that the Government has agreed with our view that legislation is needed to tackle flooding. The ABI looks for a long-term flood management strategy, with an investment programme to match the risk of flooding from rivers, coasts and drainage. This is needed urgently. The future availability and affordability of flood insurance depends on the adequate management of the growing flood risk.”
HP and EDS have announced that they have signed a definitive agreement under which HP will purchase EDS at a price of $25.00 per share, or an enterprise value of approximately $13.9 billion. The transaction is expected to close in the second half of calendar year 2008 and to more than double HP's services revenue, which amounted to $16.6 billion in fiscal 2007. Acquiring EDS advances HP's objective of strengthening its services business.
Phoenix IT Group saw a large increase in turnover and profits following the acquisition of ICM. Financial highlights of the year to end 31st March 2008 include:
* Revenues up 82.1% to £230.8m (2007: £126.7m)
* Profit from operations before non-recurring items and amortisation of acquired intangibles up 45.4% to £33.0m (2007: £22.7m)
* Profit before tax, non-recurring items and amortisation of acquired intangibles up 20.2% to £25.6m (2007: £21.3m).
Read the full results.
PHNS, an information technology and business process service provider focused on the healthcare industry, has announced the acquisition of AmeriVault Corp., a US-based provider of remote online data backup, offsite recovery services, email archiving and data lifecycle solutions. AmeriVault will operate as a PHNS subsidiary together with PHNS' Network Technology Group subsidiary (NTG), which also provides electronic data protection services as well as advanced data center information technology services. AmeriVault will operate with Bud Stoddard, AmeriVault's president, continuing as president, and with AmeriVault's management and employees remaining in their current positions. www.phns.com
FEMA daily SITREP
World weather impacts
South California faces summer power challenge
•Date: 15th May 2008• Region: Various
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