Short Take: EDS to spin off community banking business
EDS said it has finalized an agreement to spin off its community banking business to Willis Stein & Partners, a private investment firm. The new independent company will build upon EDS' current 500 community banking customers and more than 800 employees, the computer services giant said. EDS will retain part ownership in the new company, which will be based in the Dallas area. EDS and Chicago-based Willis Stein will continue a service-level relationship, the companies said.
EDS said it has finalized an agreement to spin off its community banking business to Willis Stein & Partners, a private investment firm. The new independent company will build upon EDS' current 500 community banking customers and more than 800 employees, the computer services giant said. EDS will retain part ownership in the new company, which will be based in the Dallas area. EDS and Chicago-based Willis Stein will continue a service-level relationship, the companies said.