Exult Lands Consulting Vet; Xerox Turns to Zapways.com
They say closure is a part of the healing process. Unfortunately, Irvine-based Aspeon Inc., a maker of computer systems for fast-food chains, could not close on the sale of its Foodservice application service provider to help heal its business.
The company said in a statement “that the closing of the sale was terminated due to the inability of the parties to agree on acceptable terms.” Aspeon didn’t name the potential buyer, but said it was looking to the sale to bring in $3.5 million.
Aspeon, which had tried to get into the business of managing software for the foodservice industry last year, has been hit hard by the technology meltdown. The company’s stock traded as high as 30 last year only to fall to penny-stock status and be delisted. It now trades for a quarter over-the-counter. The company’s application service provider operation once was touted as its savior.
Aspeon did manage to sign an agreement to sell customer contracts to its Philadelphia-based consulting business, Aecio Technology Group, for $900,000 in cash.
Web HR Company Lands VP
Management consultant Duncan Thomas has joined Irvine-based Exult Inc. as vice president of corporate development and strategy. The online human resources management company lured Thomas, who hails from consulting firms McKinsey & Co. and Bain & Co., to help make acquisitions and partnerships, according to a company statement.
“After following Duncan’s career over a number of years, I’ve been impressed with his depth and creativity of thinking, his execution, and his ability to build fast-growing businesses,” said Jim Madden, Exult’s chief executive.”I am confident that his experience will further enhance our rapid growth and bring focus to our organizational requirements as we strive to meet the needs of our growing roster of Global 500 clients. We’re delighted to welcome him to Exult and our Executive Leadership Team.”
Exult made headlines when, after British Petroleum merged with Amoco, it received a contract from the conglomerate to manage its U.S. and U.K. human resources operations. Last year, Exult also struck a deal with Bank of America Corp. to manage some of its human resources functions in a deal that could add $1.1 billion in revenue over a decade.
Xerox Taps OC Firm
Troubled copier maker Xerox Corp. struck a deal with Zapways.com,an Irvine-based Web company that helps small offices and consumers manage documents and printing,to host its Xeroxgraphx.com site.
Zapways’ business of managing paperwork,all the way from shipping to printing,falls into an area Xerox has tried to move into as it offsets falling profits on its core photocopier business. Zapways didn’t have any figures for how the deal could bump up its top line.
“We’re finding an increased demand for online-based printing, shipping and file storage, and working with Xerox helps us round out our service offerings with a world-class, reliable partner dedicated to high-quality printing,” said Tariq Chaudhary, chief executive of Zapways.com. “The combination of Xerox’s latest advancements in printing technology and our expertise on the Web will prove to be an exciting, compelling blend for businesses and consumers alike.”
Intersil Hits Rough Patch
Irvine-based Intersil Holdings Corp. has seen better days. On the same day networking gear maker Proxim Inc. slapped Intersil with a patent infringement lawsuit, Intersil had to tell investors that it may post earnings up to 5 cents a share less than it had originally expected. As with other chip makers, Intersil said its customers were grappling with too much equipment and slowdown in demand.
“Some of our networking and communications customers are experiencing an inventory correction and, in some cases, a slowdown in end-user demand. However, we are well-positioned in the short term, with a very strong balance sheet and the right target markets for long-term growth,” said Intersil Chief Executive Greg Williams.
Still, the company is betting on a rebound in the year to come. Intersil’s board voted to buy back $50 million of the company’s stock. “Intersil has strong competencies for wireless access and communications analog markets, a healthy balance sheet with substantial cash and no debt,” Williams said. “We believe the actions taken by the company the past two years have Intersil positioned for growth when overall economic conditions improve.”
Ingram Micro Adds Execs
Technology products distributor Ingram Micro Inc. has brought in more executives, this time to manage the marketing and product management sides of the business. Catherine W. Eckstein, who will be Ingram’s vice president of worldwide marketing, joined the Santa Ana-based company after five years at Kellogg Co., where she led marketing campaigns for everything from Pop Tarts to Eggo Waffles. Randall T. Gifford, who will be Ingram’s vice president of U.S. product management, came to the company from General Electric Capital IT Solutions, where he was vice president of its U.S. operations.
Bits:
After laying off about 35 staff and closing offices last month Aliso Viejo-based NowDocs Inc., which prints and delivers documents, said it would offer service to seven new cities in the U.S. and Canada.
