EDS takes stake in Saber
EDS has agreed to buy a 93 percent interest in Saber Holdings, a provider of software and services to state and local governments in the US for about $420 million in cash.
EDS is buying the stake from various sellers, including majority shareholder Accel-KKR, a joint venture of private investment firms Accel Partners and Kohlberg Kravis Roberts.
Saber’s chief executive, Nitin Khanna, and its president and chief operating officer, Karan Khanna, will keep a 7 percent interest in the company and will continue to lead it.
Saber’s products include software and services used for voter registration, public health services, motor vehicle registration and unemployment insurance.
The deal is expected to close before the end of the year.