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December 7, 2006

Bank of America signs new ExcellerateHRO contract

EDS Corp has got some momentum going in its human resources outsourcing venture ExcellerateHRO, with a new contract extension with Bank of America.

By CBR Staff Writer

Excellerate was set up in March as a joint venture between EDS and Towers Perrin, and after a slow start, has now won two major deals in a week, having announced on Tuesday a 64-month contract with retail chain 7-Eleven.

Under a five-year deal with Bank of America, ExcellerateHRO will provide benefits administration services to more than 10,000 employees across the UK, Ireland and Canada.

Both Bank of America and 7-Eleven are already clients of EDS on the IT services side of the business, and the main strategy being pursued by big IT outsourcers trying to ramp up their business process outsourcing operations is to initially cross-sell to their existing client base. For example, HP Services is marketing its finance and accounting services to its IT infrastructure services customers.

Bank of America signed a $700m deal with EDS in June to integrate and manage the communications infrastructure of MBNA Corp, which BoA acquired earlier in the year.

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