In the filing J. Crew announced the sale of 7.5 million shares by its largest shareholder, private investment firm Texas Pacific Group. The document also explained the customary warnings and potential risk areas that could affect the company’s performance.
Part of this was an update on the company’s IT situation.
We have taken over certain portions of our information systems needs that were previously outsourced to a third party and plan to continue to make significant upgrades to our information systems. We may take over other outsourced portions of our information systems in the near future, the filing states.
EDS spokeperson Travis Jacobsen told Computer Business Review that the services J. Crew is taking back indeed those it had outsourced to EDS as part of a seven-year, $40m contract signed in 2001.
Jacobsen wouldn’t reveal which services J.Crew was specifically bringing in-house and which remain in EDS’ hands. The 2001 contract covers a range of infrastructure services including data center, network design and administration, mainframe support, and help desk duties.
But Jacobsen explained that language very similar to that in this week’s J. Crew filing could be found in filings as far back as December 2005. In the 2005 statement, for example, the company states that we expect in the near future to take over certain portions of our information systems needs that we currently outsource to a third party,
The 2001 contract expires next year; Jacobsen was unable to say whether or not the two companies would renew any portions of the agreement.
