MERGERS & ACQUISITIONS
CSC's divesting spree continues
Company continues to rebalance with sale of reseller business
- By Mark Hoover
- Feb 21, 2013
Computer Sciences Corp. has entered into an agreement to sell its Enterprise Systems Integration unit, in a continuing effort to rebalance its portfolio of services.
The unit will go to a consortium comprising ITOCHU Techno-Solutions Corp. and ITOCHU Corp. for $90 million in cash.
The Enterprise Systems Integration unit is a reseller of enterprise hardware and software, and a provider of maintenance services with operations in Malaysia and Singapore, the company said.
"The sale of ESI marks our continued realignment of company assets with our strategy of leading the next generation of technology solutions and services including cybersecurity, big data and cloud computing," said Mike Lawrie, CSC president and CEO.
"We are focusing our attention on high-value solutions for clients in Singapore, Malaysia and other parts of Southeast Asia," he said.
The units revenue in fiscal 2012 was around $180 million. The transaction is expected to close in March 2013.
This deal marks the company’s fourth divestiture in four months.
At the end of October, the company sold its consulting and systems integration services part of its business in Italy to Dedagroup.
In early December, the company sold its credit services unit to Equifax for $1 billion.
And just a few weeks after its Equifax deal, the company sold its Australian IT staffing unit to Adcorp for $73.5 million.
Mark Hoover is a contributing writer to Washington Technology.