EDS Creates New HR Outsourcing Firm

It may seem unusual for EDS (VB500 No. 2) to start another company, considering the systems integrator has had enough trouble righting itself during the past couple years. But that didn't stop the Plano, Texas-based powerhouse from joining forces with Towers Perrin to create a new consulting firm, ExcellerateHRO, which will focus on human-resources outsourcing. Towers Perrin, a global professional-services firm with $1.5 billion in annual sales, combined its administration solutions business with EDS' payroll and HR outsourcing business. ExcellerateHRO already has approximately $600 million in revenue with more than 400 existing clients across the Americas. Steve Bohannon, vice president of EDS HR Services, was named CEO and a director of ExcellerateHRO, while Steve Schuckenbrock, EDS vice president of global sales and client solutions, was named chairman of the board for the new company.