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February 20, 2013
18:54 EDTCSCCSC to sell Southeast Asia reseller unit
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 unit, a reseller of enterprise hardware and software and a provider of maintenance services with operations in Malaysia and Singapore, for $90M in cash. This transaction, representing CSC's fourth divestiture within the last four months, furthers CSC's transformation strategy to rebalance its portfolio of services. The transaction is expected to close in March.
News For CSC From The Last 14 Days
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October 29, 2014
12:58 EDTCSCCSC legal risks increased with new lawsuit, says Wells Fargo
Wells Fargo sees increased legal risks for CSC after the United States Attorney for the Southern District of New York sued the company and the City of New York for Medicaid fraud. Given the legal uncertainty, Wells expects CSC to continue to maintain a "relatively sizable" cash position on the balance sheet for the "foreseeable future." It keeps a Market Perform rating on the stock.
12:56 EDTCSCCSC, City of New York charged with fraud by U.S. Attorney Bharara
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