industry technology founded 1999 headquarters london united kingdom key people geoff unwin chairman craig wilson ceo david bauernfeind cfo revenue 440.2 million 2015 1 number of employees 7 000 2015 2 website www.xchanging.com xchanging plc is a business process and technology services provider and integrator owned by csc with a wide range of multinational customers across many industries in 48 countries . xchanging provides technology enabled business solutions to the global commercial insurance industry . in outsourcing xchanging will typically take over a customer s business process or back office function and incorporate them into an existing platform in an attempt to provide better and cheaper handling of administrative tasks . 3 xchanging employs over 7 000 people worldwide . 4 xchanging offers it outsourcing infrastructure including network managed services software products and application management . it also sells procurement services . it was listed on the london stock exchange until it was acquired by csc in may 2016 . contents 1 history 1.1 notable partners and customers 2 operations 3 locations 3.1 low carbon shimoga project 4 university boat race 5 references 6 external links history edit xchanging was founded in 1999 by david andrews a former partner in andersen consulting . andrews came up with the idea at andersen consulting to create joint ventures with large multinationals to outsource the processing of back office transactions . 5 in 2000 xchanging and bae systems created the first of these enterprise partnerships 6 for hr services see also 7 . a second followed soon after again with bae systems for indirect procurement . 8 in 2012 xchanging entered the us indirect procurement market through an agreement with u.s. based bae systems representing 800 million in spend to be addressed over 7 years . 9 two years later xchanging and lloyd s of london created two more enterprise partnerships 10 one for claims processing and one for the london insurance market s back office system ; the latter including the iua 11 as a partner too . further partnerships were signed with deutsche bank 12 13 in 2004 launching xchanging into the european financial market aon in 2006 in broking services 14 and allianz gi 15 16 17 in 2007 . in 2007 18 xchanging listed on the london stock exchange entering the ftse250 . 19 20 in 2009 xchanging acquired a 75 % stake in cambridge solutions 21 another outsourcing business . this acquisition was to deliver greater scale broader international reach and a number of platforms for future growth . 22 in 2010 23 xchanging further expanded in the european financial sector by developing an eighth enterprise partnership with italian group sia ssb . 24 as part of this enterprise partnership xchanging acquired 51 % of kedrios s.p.a. kedrios the italian subsidiary of sia ssb that specialises in securities processing and fund administration services for the italian market . with this xchanging entered the italian market . this market is one of the larger outsourcing markets in europe . 25 in mid 2010 xchanging acquired security and technology communications company data integration . 26 the company 27 is an it services business in the united kingdom . the company specialises in network security application optimisation mobility services high performance networks ip telephony and open access networks . data integration serves more than 300 customers in the uk spanning the private and public sectors . based on a number of long term enterprise partnerships and the acquisition of cambridge solutions xchanging reported a 35 % revenue increase year on year to 750.4 m at the end of 2009 . 28 on 8 february 2011 xchanging issued a profit warning and announced a 100 million write off on goodwill . david andrews stepped down with immediate effect and became senior adviser to the chairman ken lever assumed the role of acting chief executive officer in addition to his role as cfo . 29 30 in may 2016 csc acquired xchanging plc in a deal valued at 480 million or approximately us 720 million . 31 notable partners and customers edit xchanging s partners include lloyd s of london deutsche bank allianz ag aon and sia ssb . other notable partnerships that xchanging has developed include deals with cad it 32 33 in italy alexander mann solutions 34 and pegasystems . 35 customers include boots 36 cooper gay 37 chep 38 selex galileo 39 qbe 40 birds eye 41 american express 42 london metal exchange 43 and the liberty mutual 44 operations edit xchanging works with large organisations in processing areas such as hr accounting and procurement as well as industry specific processing such as securities processing and insurance claims processing . although the list of back office processes which could be transformed is non exhaustive . 45 xchanging provides services across industries . procurement managing direct & indirect spend and sourcing strategies finance and accounting processing of receipts and payments net settlement and clearance human resources providing employment services from recruitment through to payroll and pensions payment back to work and medical compensation schemes technology design build and run it infrastructure and software customer administration b2b and b2c services to support customer s customer xchanging provides industry specific processing 46 for banking and securities processing securities transactions and retail investment accounting insurance processing of insurance policies premiums & claims and broker annuity other financial services it systems & hosting for exchanges processing services for fund managers investors as well as swift managed infrastructure services to banks industrial commercial and public including retail real estate manufacturing and logistics as well as services for the public sector in the united states and asia pacific . locations edit xchanging has offices in ten principal locations australia insurance and procurement france rto and nasdaq italy monetary policy and compensation germany india japan malaysia singapore the uk and the united states . 47 low carbon shimoga project edit on prime minister david cameron s visit to india 48 49 in july 2010 ceo david andrews revealed plans to create a new low carbon state of the art 1 000 person processing centre with an option to scale to 2 000 in shimoga 50 a tier three town 51 north west of bangalore . speaking on the shimoga project british prime minister mr. david cameron said i welcome this latest news from david and his team in karnataka which showcases the very best of uk and indian ingenuity and creativity . my government is keen to lay the foundations of an enhanced relationship between britain and india for the decades to come and xchanging has demonstrated here in india what can be achieved by british companies of when successfully opening up new markets around the world 52 chief minister of karnataka mr. bs yeddyurappa stated entry of a multi national in shimoga is an indication of the potential of tier 2 and tier 3 cities of karnataka . xchanging s association in joint development of the sez it park at shimoga would usher in it penetration in tier 2 and tier 3 cities . i congratulate xchanging for this initiative . 52 university boat race edit xchanging was the title sponsor of the historic annual boat race between the oxford and cambridge universities from 2005 until 2012 . from the 156th race held on april 3 2010 the boat race was officially called the xchanging boat race . 53 54 the first xchanging boat race won by cambridge after a gap of two years drew record viewership 55 on television online and along the river thames with thousands of spectators lining the banks . references edit xchanging business processing procurement and technology services provider pdf . xchanging plc. retrieved 13 may 2016 . download area pdf . xchanging plc. retrieved 13 may 2016 . annual report 2009 archived april 14 2010 at the wayback machine . page 4 investing in xchanging . xchanging plc. retrieved 13 may 2016 . the power of partnerships archived july 11 2011 at the wayback machine . bpo enterprise partnerships archived march 12 2012 at the wayback machine . xchanging uk limited 17 january 2007 . xchanging acquires bae systems remaining 50 % share in jointly owned hr services company . retrieved 13 may 2016 . news . xchanging plc. retrieved 13 may 2016 . reuters editorial 17 august 2011 . xchanging and bae systems inc sign seven year us procurement outsourcing services contract . reuters . retrieved 13 may 2016 . lloyd s press release archived september 28 2011 at the wayback machine . iua of london . archived from the original on june 26 2007 . retrieved 13 may 2016 . cs1 maint unfit url link xchanging takes majority stake in deutsche bank transaction subsidi ... . finextra research . retrieved 13 may 2016 . deutsche bank annual report 2004 transactions xchanging . retrieved 13 may 2016 . aon outsources london market processing operations to xchanging . insurance journal . 14 august 2006 . retrieved 13 may 2016 . sophie brodie 24 august 2007 . xchanging in 270m allianz deal . telegraph.co.uk . retrieved 13 may 2016 . allianz outsoucring deal archived july 11 2011 at the wayback machine . allianz press release archived march 1 2012 at the wayback machine . news . xchanging plc. retrieved 13 may 2016 . the guardian xchanging prepares ipo . insurance journal . 27 march 2007 . retrieved 13 may 2016 . xchanging to acquire cambridge for 83 mn pounds . economic times . 5 october 2008 . retrieved 13 may 2016 . xchanging acquires 75 % stake in cambridge solutions . finextra research . retrieved 13 may 2016 . news . xchanging plc. retrieved 13 may 2016 . xchanging completes sia ssb deal . finextra research . retrieved 13 may 2016 . europe goes mad over outsourcing . retrieved 13 may 2016 . xchanging snaps up network security business data integration for up to 9 million . proactiveinvestors uk . 21 june 2010 . retrieved 13 may 2016 . data integration . data integration . retrieved 13 may 2016 . xchanging plc xch lse financials ft.com . retrieved 13 may 2016 . fletcher nick . outsourcing group xchanging halves in value after profit warning . the guardian . xchanging plc trading statement . retrieved 13 may 2016 . csc makes cash offer for xchanging plc. . computer sciences corporation . retrieved 2016 02 25 . cad it 5 february 2007 . cad it & xchanging sign an exclusive international partnering agreement pr newswire uk . retrieved 13 may 2016 . news . xchanging plc. retrieved 13 may 2016 . the recruiter alexander mann solutions archived october 4 2011 at the wayback machine . forms strategic alliance with xchanging latest financial news stock news forex news and commodity market news euroinvestor . retrieved 13 may 2016 . you searched for xchanging and boots sign seven year 400 million outsourcing contract hro today . hro today . retrieved 13 may 2016 . barbara hahn . cooper gay signs outsourcing contract with xchanging . retrieved 13 may 2016 . news . xchanging plc. retrieved 13 may 2016 . news . xchanging plc. retrieved 13 may 2016 . news . xchanging plc. retrieved 13 may 2016 . news . xchanging plc. retrieved 13 may 2016 . crainscleveland.com subscription center . retrieved 13 may 2016 . london metal exchange home . retrieved 13 may 2016 . leading insurance broker marsh appoints xuber to provide core broking software . xchanging plc. retrieved 13 may 2016 . business world we are fairly industry agnostic archived august 9 2010 at the wayback machine . insurance claims management software services and solutions xchanging . xchanging plc. retrieved 13 may 2016 . xchanging geographic reach . xchanging plc. retrieved 13 may 2016 . british pm david cameron gifts 2 000 jobs to shimoga . dna . 29 july 2010 . retrieved 13 may 2016 . watt nicholas 27 july 2010 . david cameron seeks to impress india with his massive delegation .