29 January 2002
29 January 2002
XANSA AND BARCLAYCARD CONFIRM JOINT BUSINESS VENTURE
Minimum Commitment of £125m Revenue To Xansa from 1 February 2002
Xansa, the Business Consulting, Information Technology and Outsourcing company
today announces the successful completion of its negotiations with Barclays to
form a Joint Business Venture with Barclaycard.
The venture has a minimum commitment of £125m revenue to Xansa over five years.
Based on the principles of shared success, it was announced in November 2001 and
now becomes effective from 1 February 2001. It has been established to provide
a broad range of services to the Retail and Commercial operations at
The new venture, known as the Xansa Barclaycard Partnership, is jointly owned
by Xansa and Barclays with a shareholding split of 49:51 respectively. This
joint business venture builds upon the strong relationship developed between the
two organisations over the past decade. It focuses on delivering Barclaycard's
business needs and has been structured to accommodate future growth. The
venture will deliver tangible benefits to Barclaycard through Xansa's expertise
in business transformation, exploitation of emerging technologies and delivering
major strategic programmes simultaneously.
Around 450 Barclaycard jobs will transfer to Xansa under TUPE legislation
(Transfer of Undertakings (Protection of Employment) Regulations 1981) from 1
February 2002. No Barclaycard employees have lost their job as a result of the
Gary Hoffman, Chief Executive at Barclaycard says:
'Xansa's expertise in business transformation, exploitation of emerging
technologies and the delivery of major strategic programmes brings tangible
benefits to Barclaycard and will allow us to respond to the IT requirements of
the business with greater speed and agility. This joint business venture, a
natural extension of our relationship, allows us to further share the risks and
rewards in delivering best value and service excellence within Barclaycard.
The Xansa Barclaycard Partnership is the right fit for our people and for our
Steve Weston, Managing Director of Systems Integration at Xansa adds:
'Xansa extends a warm welcome to our new colleagues from Barclaycard and looks
forward to sharing with them the success of the Xansa Barclaycard Partnership.
This joint venture plays to the strengths of both organisations and reflects
Xansa's market leading capability in constructing ventures which deliver
significant cost and performance benefits.'
Xansa Press Office
Tel: 01442 434088
Barclaycard Press Office
Tel: 01604 258 299
Ben Atwell/Giles Sanderson
Tel: 020 7831 3113
Xansa (www.xansa.com) is a company that transforms the business capability of
its clients by harnessing knowledge of selected industries and business
processes with proven skills in applying technology. Xansa is one company of
specialist teams working across four key areas of expertise: Business Consulting
Information Technology, Business Process Management and Outsourcing, and
operates in the UK, North America, Continental Europe, India and Asia-Pacific.
The Company is listed on the London Stock Exchange under the code XAN.
Barclaycard is Europe's leading issuer of credit cards with 11 million cards in
circulation worldwide. In the UK, Barclaycard has 8.3 million customers. One in
five UK credit cards is a Barclaycard. Barclaycard can be used to pay for goods
and services in more than 22 million places in over 200 countries and to
withdraw cash from over 600,000 ATMs and banks worldwide.
Barclaycard was set up in 1966 and was the UK's first credit card. The company
now employs more than 4,200 people. Barclaycard was the first and is the UK's
leading card services provider on the Internet. More than 650,000 customers
regularly use Barclaycard's online account services.
This information is provided by RNS
The company news service from the London Stock Exchange