CSC Agrees to $1 Billion Sale of Credit Services Business to Equifax

News Article -- December 03, 2012

FALLS CHURCH, Va., Dec. 3 – As part of its transformation initiative to rebalance its portfolio of services and focus on next-generation technology solutions and services, CSC (NYSE: CSC) has reached a definitive agreement with Equifax for the sale of its credit services unit for $1 billion in cash. The after-tax proceeds from the sale of the business will be approximately $750 - $800 million based on preliminary plans. CSC intends to use $300 - $400 million to repurchase shares, contribute $300 - $400 million to its pension plans and apply the remainder to general corporate purposes.

Read the full news release "CSC Agrees to $1 Billion Sale of Credit Services Business to Equifax."

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