CSC Enters Divestiture Agreement with Italian IT Services Company
As part of its ongoing service portfolio optimization, CSC (NYSE: CSC) has entered into an agreement with Dedagroup, an Italian IT services company, for the sale of the consulting and systems integration services part of its business in Italy. Financial terms were not disclosed.
After the transaction reaches final agreement, CSC will retain a presence in Italy and continue to provide a select portfolio of services, including cloud, financial services, infrastructure, business process outsourcing and healthcare offerings, to multinational companies. CSC will also retain corporate financial services products, solutions and services for CSC's international accounts.
For CSC, this agreement advances the company's transformation strategy designed to rebalance its business portfolio with more specialized global solutions.
Under the terms of the agreement, Dedagroup will assume from CSC all pan-Italian consulting and systems integration projects as well as fashion industry software products and services.
“We will transition parts of our business in Italy to a reliable and well-regarded Italian IT services company and help ensure a smooth transition for employees and clients,” said Claude Czechowski, CSC Vice President and General Manager, South and West Region. "We can now focus on bringing CSC's global solutions and services to multinational companies with operations in Italy."
The agreement will be reviewed by the local anti-trust authority. Local labor unions have been informed of the planned sale. CSC anticipates final agreement within 60 days.
CSC is a global leader in providing technology-enabled business solutions and services. Headquartered in Falls Church, Va., CSC has approximately 96,000 employees and reported revenue of $15.8 billion for the 12 months ended June 29, 2012. For more information, visit the company's website at www.csc.com.