CDI Corp. IT Services Unit Signs a New $30 Million Outsourcing Contract with a Global IT Service Provider.Business Editors/Hi-Tech Writers PHILADELPHIA--(BUSINESS WIRE)--June 22, 2000 Staffing and outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. leader CDI CDI compact disc interactive: a system for storing a mix of software, data, audio, and compressed video for interactive use under processor control Corp. (NYSE NYSE See: New York Stock Exchange :CDI) today announced that it has signed a new contract to provide information technology outsourcing Information Technology Outsoucing or ITO is a company's outsourcing of computer or Internet related work, such as programming, to other companies. It is used in refence to Business Process Outsourcing or BPO, which is the outsourcing of the work that does not require so much services to a major, global provider of IT services. The initial outsourcing contract is a three-year agreement worth approximately $30 million. The agreement also includes two, two-year contract extension opportunities. Under the terms of the agreement, CDI Information Technology Services will operate a 24-hour/seven-day systems support operation in three locations in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Connecticut. "This outsourcing agreement demonstrates our ability to provide large-scale, long-term, distributed solutions to solve our customers' business challenges. It also demonstrates CDI's commitment to becoming a best-of-breed IT solutions provider," said CDI Information Technology Services President Joe Benaroya. Company Information CDI Information Technology Services is a $332 million division of CDI Corporation. Philadelphia-based CDI Corp., one of the world's largest staffing and outsourcing service providers, increases the productivity and competitiveness of its Fortune 1,000 customers through customized technical, information technology, professional and administrative staffing and outsourcing solutions delivered by CDI companies including Management Recruiters International and Todays Staffing. CDI employs nearly 32,000 people and generated more than $1.6 billion in revenue in 1999. CDI Corp. is a founding member of the Philadelphia-based Business/Academic Partnership for the Information Technology Workforce. For more information about CDI services and employment opportunities, visit the CDI Corp. web site at www.cdicorp.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Certain information in this news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as such term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Certain forward-looking statements can be identified by the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," "seeks," "approximately," "intends," "plans," "estimates," or "anticipates" or the negative thereof or other comparable terminology, or by discussions of strategy, plans or intentions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These include risks and uncertainties such as competitive market pressures, material changes in demand from larger customers, availability of labor, the company's performance on contracts, changes in customers' attitudes towards outsourcing, government policies or judicial decisions adverse to the staffing industry, changes in economic conditions, unforeseen events associated with the disposition of discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. , delays or unexpected costs associated with implementation of computer systems, delays or unexpected costs in making modifications to existing software and converting to new software to resolve issues related to Year 2000 and failure of third parties to provide Year 2000 compliant a. 1. (Computers) having dates fully and properly represented, and not susceptible to failure due to the year 2000 bug. products and services. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" . The company assumes no obligation to update such information. |
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