CSC completes DynCorp deal

Computer Sciences Corp. has completed the acquisition of DynCorp, further solidifying the company's position as one of the top 10 government information technology contractors.

The acquisition strengthens CSC in the areas of federal outsourcing, base and range operations, telecommunications, training and simulation, health care and homeland security.

CSC of El Segundo, Calif., paid $162 million in cash, $463 million in stock and assumed $306 million in DynCorp's debt in the deal worth about $931 million, CSC spokesman Mike Dickerson said.

Each of the approximately 10.8 million outstanding DynCorp shares was converted into $15 cash and 1.3940 shares of CSC stock for the deal.

With the announcement, DynCorp of Reston, Va., becomes part of CSC's Federal Sector business unit, which is based in Falls Church, Va. The combined federal-sector organization is expected to derive about $6 billion in annual revenue from the federal government, and have about 40,000 employees serving the U.S. government.

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