Thursday, April 26, 2007
CSC Acquires Covansys
El Segundo-based Computer Sciences Corporation said late Wednesday that it is acquiring Covansys Corporation, a publicly held provider of outsourcing services for the healthcare, financial services, and other indutries, in a deal worth approximately $1.3B. CSC said that it will acquire Covansys for $34.00 per share in cash, in a deal which is expected to complete in CSC's second quarter. The firm's CEO, Van B. Honeycutt said that the acquisition is expected to strengthen the firm's capabilities and presence in India. The acquisition doubles CSC's workforce in India to approximately 14,000.