CSC COMPLETES ACQUISITION OF BEARINGPOINT BRAZIL OPERATION
News Release -- August 06, 2009
Acquisition to Strengthen Horizontal and Vertical Industry Capabilities, Enhance Opportunities in Key Global Market
FALLS CHURCH, Va., Aug. 6 -- CSC (NYSE: CSC) today announced that it has completed its acquisition of BearingPoint's operation in Brazil. Financial terms of the transaction were not disclosed.
The acquisition supports CSC's multi-year strategic growth plan by expanding the company's presence in Brazil, the world's ninth-largest economy, and adding key horizontal capabilities and vertical industry expertise.
With approximately 550 employees and offices in Sao Paulo, Rio de Janeiro and Brasilia, the operation will enhance CSC's ability to support existing customers with a presence in Brazil, add a robust set of new clients, and position CSC to pursue and win new business in the region.
The acquisition will also expand CSC's industry vertical expertise and clientele in its Chemical, Energy and Natural Resources and Technology and Consumer sectors. Clients of the Brazilian business include some of the world's largest producers of oil and gas, and iron ore, as well as leading global brands in other sectors.
"Today marks a milestone in the implementation of our strategic growth plan and our expansion in high-potential geographies around the world," said CSC Chairman, President and Chief Executive Officer Michael W. Laphen. "This acquisition aligns perfectly with our capabilities and strategic focus, and it positions CSC as a major player in the local IT services arena. I look forward to our future success both in Brazil and throughout Latin America."
"With a proven portfolio of successful global practices and projects, CSC is highly qualified to assist our clients in Brazil," said Adriano Giudice, president of CSC's Brazilian operation. "We are very confident and excited about the role CSC will play in the Brazilian market, and the business and professional development opportunities to come."
CSC's Latin American presence also includes existing operations in Argentina, Chile, Colombia, Costa Rica, Guatemala, Peru and Mexico.
CSC is a global leader in providing technology-enabled solutions and services through three primary lines of business. These include Business Solutions and Services, the Managed Services Sector 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 92,000 employees and reported revenue of $16.74 billion for the 12 months ended April 3, 2009. For more information, visit the company's Web site at www.csc.com.