LITTLE ROCK - Seeking to align itself more closely with its corporate parent, Systematics Information Services Inc. announced last week that it will change its name to Alltel Information Services Inc.
The name change, which will become official Feb. 15, is part of an effort by the bank outsourcing firm to solidify the link to Alltel Corp., officials said. Alltel, which operates local telephone companies and wireless communications systems, acquired Systematics in 1990 in deal valued at $500 million.
"We make this change to create a bold, unified identity for our worldwide customers, investors, and employees," said Systematics chairman and chief executive officer John E. Steuri. "Information services is now nearly 30% of Alltel's revenue. It is both logical and fitting for our various information services businesses to assume the Alltel identity."
Mr. Steuri - who remain as the unit's CEO - also said the new moniker reflects Systematics' expansion from its founding in 1979 as primarily a provider of technology services to financial institutions. "Today our newer industry-focused areas - including telecom, wireless, mortgage, healthcare, and international - produce more than half of our information services revenues," he noted.
The two Systematics units focusing on the finance industry, Systematics Financial Services Inc. and mortgage processor Computer Power Inc. will also assume the Alltel name, officials said.