EDS Acquires UK's Citymax; Puts Axion On Back Burner
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Texas-based systems integrator Electronic Data Systems has acquired Citymax, a London-based financial systems and services subsidiary of Credit Suisse. Citymax will be integrated with EDS' Global Securities Industry Group, and adds 300 employees to that division plus a set of securities processing products. But EDS does not intend to push Axion, Citymax's funds management system. Terms of the acquisition were not disclosed.
Transition and integration manager at EDS, Graham Hunt, says the deal
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