EDS buys the Feld Group
- By Gail Repsher Emery
- Jan 12, 2004
Electronic Data Systems Corp. acquired a Dallas-based IT consultancy, the Feld Group, for approximately $41 million in cash and $48 million in restricted stock, warrants and options, EDS executives announced today.
Nearly all 60 Feld staff members will move to EDS, where they will support EDS's core business operations. In addition, EDS will own Feld's proprietary IT and business process implementation software.
EDS has also finalized its executive team, company executives said.
The acquisition "speeds our transition to an increasingly more cost-competitive, high-value model -- bringing world-class talent, consulting relationships and innovative IT management software, processes and methodologies," said Mike Jordan, EDS chairman and chief executive officer.
The Feld Group, a privately held technology management firm, specializes in reorganizing technology organizations. It transformed the IT departments of companies including Burlington Northern Santa Fe and PricewaterhouseCoopers, and has been working with EDS as a consultant for several months, EDS officials said.
Charlie Feld, 61, founded the Feld Group in 1992 following his tenure as CIO of Frito-Lay. He has served as CIO for First Data Resources, Delta Air Lines and Burlington Northern.
EDS officials also named the leaders of its core operating units: Global Sales & Client Solutions, Service Delivery and Portfolio Management. Feld is executive vice president, Portfolio Management. Steve Schuckenbrock, chief operating officer of the Feld Group, is now executive vice president of Global Sales & Client Solutions. They join former ChevronTexaco CIO Dave Clementz, who was recently appointed executive vice president, Service Delivery.
EDS had $21.5 billion in revenue in 2002 and employs about 138,000 people. The company was ranked No. 9 on the Washington Technology Top 100.