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CSC ACQUIRES LOG.SEC CORPORATION
News Release -- December 18, 2008
Acquisition Extends Logistics and Infrastructure Offerings
FALLS CHURCH, Va., Dec. 18 -- CSC (NYSE: CSC) today announced that it has acquired Log.Sec Corporation, a privately owned information technology (IT) and logistics engineering firm based in Manassas, Va. CSC expects the transaction to be accretive to earnings in the first year. Terms of the acquisition were not disclosed.
Log.Sec is the largest IT services provider at Aberdeen Proving Ground (APG), Md., with approximately 385 employees concentrated at APG and Fort Monmouth, N.J. The company provides specialized logistics services, including lifecycle, acquisition and sustainment services, as well as a full complement of test support services to clients in the government sector. The acquisition strengthens CSC's ability to offer comprehensive solutions in logistics and IT infrastructure, market segments of strategic importance to CSC's public sector operations.
Log.Sec's strong presence at APG, a key benefactor of the Defense Base Closure and Realignment Commission (BRAC), will be significant in bringing CSC's comprehensive set of solution offerings to its clients.
"The Log.Sec acquisition reinforces our growth strategy of acquiring select companies that complement our three-pronged strategy of growing our core business, investing in high-growth market segments and pursuing select state business," said James W. Sheaffer, president of CSC's North American Public Sector line of business. "With BRAC activities expected to increase the amount, nature and scope of work for the Aberdeen Test Center, CSC is ideally positioned for new contracting opportunities."
Log.Sec will be a part of CSC's Defense Division, which provides enterprise/logistics transformation; information technology; engineering; management, technical and functional expertise; training, modeling and simulation; command and control; and high-performance computing across the Department of Defense.
CSC is a global leader in providing technology-enabled solutions and services through three primary lines of business. These include Business Solutions & Services, Global Outsourcing Services and the North American Public Sector. CSC's advanced capabilities include systems design and integration, information technology and business process outsourcing, applications software development, Web and application hosting, mission support and management consulting. Headquartered in Falls Church, Va., CSC has approximately 91,000 employees and reported revenue of $17.3 billion for the 12 months ended Oct. 3, 2008. For more information, visit the company's Web site at www.csc.com.