Kanbay to provide services to Liberata

Kanbay International Inc., has obtained a $12.5 million contract from Liberata to provide servicing capabilities together with technology support.

The British outsourcing company, Liberata will use Kanbay's offshoring and outsourcing services to help its legacy systems decrease the total administration cost per policy for business acquisition and subsequent servicing.

"Last month Kanbay agreed to be acquired by French computer services company Cap Gemini SA for $1.25 billion, or $29 per share in cash, subject to Kanbay shareholder and regulatory approval.

Shares of Kanbay added 12 cents to $28.48 in afternoon (tuesday) trading on the Nasdaq."

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