E&Y Adds to the Flock of Big 5 Start-Up Companies

The latest entry in the Big 5 divestitures arena comes to us from E&Y. The new company, EYT, is a new look for the former Ernst & Young Technologies, and is described as a standalone ASP and eSolutions integrator that implements, develops, hosts, and supports applications for clients worldwide.

The company will use its Internet-based NetSet solution to provide “complete end-to-end hosting from development to production.” In addition, the company will provide application rental and financing, critical technologies including knowledge management and training, assessment and design services, all of which EYT claims will help clients gain a competitive advantage.

EYT is banking on its size, skills and competencies in the accounting and financial services arena to compete with other large companies who also offer ASP services. EYT will offer financial and customer relationship management applications from Lawson Software and Great Plains Software.

and a solid relationship with both Ernst & Young and Cap Gemini, having signed a five-year contract ensuring EYT's customers can receive services from both companies.

EYT enters the market backed by $50 million and preferred provider relationships with E&Y and Cap Gemini Ernst & Young U.S. LLC, the latter of which has an equity interest in the new company. Jim Hunt, President and CEO of EYT was responsible for growing the systems integrater and services portion of EYT’s business from start up to over $100 million in revenue in four years. Hunt is the former Managing Director of Systems Integration for Price Waterhouse and has spent several years working in U.S. government intelligence.

You may like these other stories...

You probably don't want to think about how many times you access the File menu in Excel 2010 or 2013. Personally I think Excel 2010 has the best possible File menu arrangement, other than having Print Preview grafted...
Following other recent high-profile hacking events, investigators discovered yesterday that hackers broke into the draft work paper files of several famous CPA firms. Revealing images of the scantily clad documents have been...
For bitcoin users, the taxman cometh. And you best know how to calculate taxes owed on what the IRS calls convertible virtual currency.In March 2014, the IRS issued Notice 2014-21, which declares virtual currency will be...

Already a member? log in here.

Upcoming CPE Webinars

Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.
Sep 30
This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Oct 21
Kristen Rampe will share how to speak and write more effectively by understanding your own and your audience's communication style.
Oct 23
Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.