CSC Enters Into Agreement to Acquire BearingPoint Operation in Brazil

Fri Jul 10, 2009 12:37am EDT
 
[-] Text [+]
Acquisition to Strengthen Horizontal and Vertical Industry Capabilities,
Enhance Opportunities in Key Global Market

FALLS CHURCH, Va., July 10 /PRNewswire-FirstCall/ -- CSC (NYSE: CSC) today
announced that it has entered into an agreement to acquire BearingPoint's
Brazilian operation, which specializes in consulting and systems integration
services. The acquisition supports CSC's multi-year strategic growth plan by
expanding the company's presence in Brazil, the world's ninth-largest economy,
and adding key horizontal capabilities and vertical industry expertise.
Financial terms of the transaction were not disclosed. The transaction is
expected to be complete by July 31, 2009, and is subject to the satisfaction
of customary closing conditions and the approval of the court overseeing
BearingPoint's corporate reorganization.

(Logo:  http://www.newscom.com/cgi-bin/prnh/20090422/CSCLOGO)

With 550 employees, a strong leadership team and offices in Sao Paulo, Rio de
Janeiro and Brasilia, the operation will enhance CSC's ability to support
existing customers with a presence in Brazil, adding a robust set of new
clients, and positions CSC to pursue and win new business in the region.
Approximately two-thirds of the staff are qualified to implement and support
SAP solutions. Additional horizontal capabilities include project management,
strategy consulting and applications management. Language capabilities include
English and Spanish, in addition to Portuguese.

The acquisition will also expand CSC's industry vertical expertise and
clientele in its Chemical, Energy and Natural Resources and Technology and
Consumer sectors. Clients of the Brazilian business include some of the
world's largest producers of oil and gas, and iron ore, as well as some of the
world's most respected brands in other sectors.

"When completed, this acquisition will mark a milestone in our strategic
growth plan and the expansion of our service delivery capabilities in
high-growth geographies," said CSC Chairman, President and Chief Executive
Officer Michael W. Laphen. "With this step, we will establish a meaningful
foothold in one of the world's largest emerging markets, add capabilities that
extend and complement our own and position CSC for increased success both
internationally and domestically."

CSC's Latin American presence also includes existing operations in Argentina,
Chile, Colombia, Costa Rica, Guatemala, Peru and Mexico. 

About CSC
CSC is a global leader in providing technology-enabled solutions and services
through three primary lines of business. These include Business Solutions and
Services, the Managed Services Sector and the North American Public Sector.
CSC's advanced capabilities include systems design and integration,
information technology and business process outsourcing, applications software
development, Web and application hosting, mission support and management
consulting. Headquartered in Falls Church, Va., CSC has approximately 92,000
employees and reported revenue of $16.74 billion for the 12 months ended April
3, 2009. For more information, visit the company's Web site at www.csc.com.

All statements in this press release and in all future press releases that do
not directly and exclusively relate to historical facts constitute
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995.  These statements represent the Company's
intentions, plans, expectations and beliefs, and are subject to risks,
uncertainties and other factors, many of which are outside the Company's
control.  These factors could cause actual results to differ materially from
such forward-looking statements.  For a written description of these factors,
see the section titled "Risk Factors" in CSC's Form 10-K for the fiscal year
ended April 3, 2009 and any updating information in subsequent SEC filings. 
The Company disclaims any intention or obligation to update these
forward-looking statements whether as a result of subsequent events or
otherwise except as required by law.




SOURCE  CSC

Janet Herin, Sr. Manager, Media Relations, Corporate, +1-310-615-1693,
jherin@csc.com, or Bryan Brady, Vice President, Investor Relations, Corporate,
+1-703-641-3000, investorrelations@csc.com, both of CSC

 

Featured Broker sponsored link

Editor's Choice

A selection of our best photos from the past 24 hours.  Slideshow 

Most Popular on Reuters

  • Articles
  • Video