FARMINGTON HILLS ? Covansys Corp. completed the previously announced sale of its State and Local Government practice to Saber Corp for $33.8 million. Saber, a portfolio company of Accel-KKR, provides software and services to state and local governments.
The agreement does not include Covansys’ business process outsourcing business or any of the assets or contracts that Covansys acquired
with its acquisition of PDA Software Services in 2002.
Covansys said Pro-forma revenue and income from operations without its
State and Local Government practice were $97 million and $7.8 million for
the three months ended March 31, respectively. The State and Local Government practice lost $2.3 million in the first quarter on revenue of $12.4 million.
Saber, founded in 1997, is based in Portland, Oregon. The company provides software and services that underpin voter registration, election
management, public retirement programs, human services, public health
services, motor vehicles, unemployment insurance, and forms and documents.
In other Covansys news, Hugh R. Harris has informed the Company that he has resigned as a director effective May 24.
