EDS completes Saber buy

EDS Corp. has completed its acquisition of a majority stake in Saber Holdings Inc., a provider of software and services to state governments.

EDS paid $420 million in cash for a 93 percent ownership share of the Portland, Ore.-based company. Chief Executive Officer Nitin Khanna and President and Chief Operating Officer Karen Khanna retain the remaining interest in Saber and will continue to lead the privately held company.

Saber, founded in 1997, is one of the fastest-growing providers of software products and services that help state and local governments serve their citizens.

Saber's product line includes market-leading software and services that underpin essential, federally funded government functions, such as voter registration, election management, public retirement programs, human services, public health services, motor vehicle registration and unemployment insurance.

The company has operations in 35 states and has more than doubled its revenue each year since 2004, EDS said.

EDS of Plano, Texas, ranks No. 10 on Washington Technology's 2007 Top 100 list of the largest federal government prime contractors.