|[February 20, 2013]
CSC Agrees to Sell Southeast Asia Reseller Unit
FALLS CHURCH, Va. --(Business Wire)--
has reached a definitive agreement with a consortium comprising ITOCHU
Techno-Solutions Corporation ("CTC (News - Alert)") and ITOCHU
Corporation for the sale of CSC's (News - Alert) Enterprise Systems Integration
(ESI) unit, a reseller of enterprise hardware and software and a
provider of maintenance services with operations in Malaysia and
Singapore, for $90 million in cash.
This transaction, representing CSC's fourth divestiture within the last
four months, furthers CSC's transformation strategy to rebalance its
portfolio of servies.
"The sale of ESI (News - Alert) marks our continued realignment of company assets with
our strategy of leading the next generation of technology solutions and
services including cybersecurity,
data and cloud
computing," said CSC President and CEO Mike
Lawrie. "We are focusing our attention on high-value solutions for
clients in Singapore, Malaysia and other parts of Southeast Asia."
In fiscal 2012, ESI's revenue was approximately $180 million with
mid-single digit operating margins. ESI's results will be recast as
discontinued operations. ESI's results had been previously reported
within CSC's Business Solutions & Services sector.
The transaction is expected to close in March 2013.
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