Perot Systems Signs 10-Year, US$275 Million Contract With Vanguard Car Rental USA Inc.
Contract Underscores Perot Systems' Emphasis on Contract Renewals
Perot Systems Corporation (NYSE: PER) and Vanguard Car Rental USA Inc. today announced the signing of a 10-year, US$275 million information technology (IT) outsourcing contract.
The contract calls for Perot Systems to provide substantially all of the IT services required by Vanguard Car Rental. These services include application development and maintenance, data centre, desktop and helpdesk services. The majority of the work will take place in Fort Lauderdale, Florida; Herndon, Virginia; and Plano, Texas.
Vanguard Car Rental, which recently acquired the Alamo Rent-A-Car and National Car Rental brands and other assets of ANC Rental Corporation, expects to achieve significant operational efficiencies by consolidating the separate information technology systems currently used to support the brands. Perot Systems will consolidate these systems onto a single system.
"We are extremely happy to have a true partner committed to the success of Vanguard Car Rental and both our brands," said Tyler Best, CIO of Vanguard Car Rental. "The combined knowledge and experience of Vanguard and Perot Systems will make the Vanguard information technology services team a leader in the car rental industry. Additionally, consolidating both brands onto a single platform will allow Vanguard to achieve a competitive advantage in the marketplace."
This contract replaces the multi-year contract between Perot Systems and ANC Car Rental signed in 2000. The new contract with Vanguard will run through 2012.
"This alliance between Vanguard and Perot Systems represents a win/win for both companies," said Scott Lang, Perot Systems vice president and Strategic Markets group leader. "The relationship with the entire Vanguard team is very strong and one which we are confident will produce great results for both firms. The outstanding Perot Systems team of IT professionals working alongside every member of the Vanguard team will focus on providing flexible and efficient technology solutions that will enable Vanguard to aggressively pursue their business goals in this challenging yet opportunistic market."
About Vanguard Car Rental USA Inc.
Vanguard Car Rental USA Inc. owns and operates the National Car Rental and Alamo Rent-A-Car brands. Together, the National and Alamo brands make up one of the world's largest car rental companies, with annual revenue of US$2.4 billion in 2002. Headquartered in Fort Lauderdale, Florida, the worldwide organization employs more than 14,000 associates, has more than 3,200 hundred locations in 83 countries and serves customers with a fleet of more than 217,000 automobiles.
Perot Systems is a worldwide provider of information technology services and business solutions. Through its flexible and collaborative approach, Perot Systems integrates expertise from across the company to deliver custom solutions that enable clients to accelerate growth, streamline operations and create new levels of customer value. Headquartered in Plano, Texas, Perot Systems reported 2002 revenue of US$1.3 billion. The company has more than 10,000 associates located in North America, Europe, and Asia. Additional information on Perot Systems is available at http://www.perotsystems.com .
This press release contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "forecasts," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of such terms and other comparable terminology. These statements are only predictions. Actual events or results may differ materially. Please refer to our Annual Report on Form 10-K for the fiscal year ended December 31, 2002, as filed with the U.S. Securities and Exchange Commission and available at www.sec.gov , for additional information regarding risk factors. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments, or otherwise.
SOURCE Perot Systems Corporation
CONTACT: Ian K. Stewart of Perot Systems Corporation, +1-972-577-3939, or fax, +1-972-577-4484, or email@example.com / Company News On-Call: http://www.prnewswire.com/comp/122686.html Web site: http://www.sec.gov Web site: http://www.perotsystems.com (PER)