QualxServ buys the Information Technology Service Management (ITSM) Division of BancTec
BancTec Inc, a document and payment processing services and solutions provider has sold its Information Technology Service Management (ITSM) division to QualxServ, LLC. The financial terms of the sale have not been disclosed. This sale will enable BancTec to focus on its BPO division whereas QualxServ will benefit with additional IT resources, scalability and operating efficiency.

AXA Sun Life signs $693.5 m outsourcing deal with Capita
AXA Sun Life has signed a 15 year deal with Capita valued at $693.5 m. As per the deal, Capita will handle 3.2 m mature life and pension policies and provide customer service, policy administration, claims activity, and IT support to a part of AXA Sun Life's operations. The deal also includes acquiring of the AXA, India operations and transfer of 1300 AXA employees from UK to Capita.

North Carolina Department of Health and Human Services awards $265 m contract to CSC
North Carolina Department of Health and Human Services has signed a $265 m contract to develop and implement a new administration system with CSC. The contract tenure is 7.5 years with a one year option. As per the contract, CSC will develop and manage the new Medicaid Management Information System (MMIS). Additionally, the company will be the fiscal agent of NC DHHS providing operational support to call centers, claims processing, pharmacy operations, medical policy reviews and other administrative activities.

The US Department of Education signs a 4-year contract with iQor
The US Department of Education has awarded a four year contract to iQor for student loan collections. iQor has won the contract after a very tough selection process. The services will be provided from the companies Minneapolis, Columbus and Buffalo Centers of Excellence.

L&T bids for Satyam
Larsen and Toubrou, an engineering company has purchased Satyam shares to increase its stake from current 4.48% to about 12%. The company is now one of the largest shareholders in Satyam. L&T is slowly moving towards acquiring the company. L&T’s subsidiary, L&T Infotech, is in the software business and this acquisition will help the company to be among the top IT companies in India.

Infosys and IBM eye the Indian IT captive unit of Fidelity Investments
Both Infosys Technologies and IBM are striving hard to acquire the Indian IT captive arm of Fidelity Investments. The estimated deal value is in the range of $150 to $180 m with an assured multiyear outsourcing contract from Fidelity. Fidelity is still evaluating options.

Warner Bros to lay off 800 jobs
Warner Bros based in Burbank, plans to eliminate 600 employees and not fill in the 200 open positions. The company plans to outsource management information systems, finance and accounting and back office operations to India and Poland. This move will help the company reduce its cost by $50 m annually.

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