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Stock Market & Financial Investment News

News Breaks
March 20, 2014
08:32 EDTCSCCSC wins $86M blanket purchase agreement
The U.S. Department of Homeland Securityís Customs and Border Protection awarded CSC a single-award blanket purchase agreement to provide financial systems support services including next-generation capabilities. The BPA and first task order, signed in Q3 of CSCís FY14 have a one-year base period and four option years. The BPA, awarded under the General Services Administrationís schedule 70 contract, has an estimated total value up to $86M, and the first task order has an estimated total value of $31M. Under the first task order, CSC will provide operations and maintenance of financial systems and functional support, including help desk, user training, upgrades and enhancements, to CBPís 5K SAP users. As part of the BPA, CSC will also assist in the development and implementation of new financial systems, including a shared services model across DHS. As a result of CBPís success with SAP and its reputation within DHS as a leader in financial management and systems, CSC will help the agency establish a CBP shared services program for interested DHS organizations and components.
News For CSC From The Last 14 Days
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September 1, 2015
10:04 EDTCSCOn The Fly: Analyst Upgrade Summary
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09:16 EDTCSCCSC upgraded to Overweight from Equal Weight at Barclays
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08:14 EDTCSCCSC acquisition positive, says SunTrust
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August 31, 2015
16:53 EDTCSCCSC to combine government services unit with SRA
CSC announced that it has entered into a definitive agreement to combine its government services unit, Computer Sciences Government Services, with SRA upon the spin-off of that unit, plans for which were announced in May. SRA is owned by a shareholder group led by Providence Equity Partners and SRA's founder, Dr. Ernst Volgenau, as well as members of its management team. The transaction with SRA is targeted to close before the end of November 2015, upon the separation of CSC's government services unit. That separation is intended to qualify as a tax-free transaction to CSC shareholders. The combined company, to be named prior to closing, will become the largest pure-play IT services provider serving the U.S. government sector, with combined FY15 revenues of approximately $5.5B, nearly 19,000 employees and among the industry's leading profit margins. Mike Lawrie will serve as Chairman of the Board of the combined company. Lawrence Prior, executive vice president and general manager of CSC's North American Public Sector unit, will be CEO of the company upon completion of the spin-off and transaction with SRA. Additional members of the new company's management team drawn from both companies will be named at later dates as the integration planning progresses. The headquarters of the combined company is expected to remain in Northern Virginia.
08:32 EDTCSCCSC team wins FAA cloud services contract at more than $108M
CSC (CSC) announced that the FAA awarded its team, including Amazon (AMZN) Web Services, Microsoft (MSFT) Azure and other strategic business partners, a contract to deliver cost-effective cloud services, data center consolidation and cloud migration capabilities. This single-award indefinite-delivery/indefinite-quantity contract is valued at roughly $108.99M with the potential to reach $1B over 10 years. Under the contract, CSC's team will consolidate FAA data centers and migrate FAA data and systems to a hybrid cloud environment. The team will use the CSC Agility Platform cloud management tool to orchestrate efficient cloud deployment while leveraging alliance partners for data and cloud services.

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