CSC has reached a definitive agreement with a consortium comprising ITOCHU Techno-Solutions Corporation and ITOCHU Corporation for the sale of CSC’s 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.
The transaction is expected to close in March 2013, and represents CSC’s fourth divestiture within the last four months.
Mike Lawrie (President and CEO, CSC): 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.