UBS and CSC Sign New Global IT Services Contract
News Release -- July 06, 2010
Total contract valued up to $580 Million over 5 years
ZURICH, Switzerland and FALLS CHURCH, Va., July 6 – CSC (NYSE: CSC) announced today that it has signed a contract with UBS for the provision of voice and data network, security and telecommunication services.
CSC and UBS signed a five-year master service agreement; the total contract value is estimated to be up to $580 million, assuming provision of the full scope of services over the five-year term. All of the agreements are subject to regulatory and other approvals and notifications, including consultation of relevant workers councils.
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. The company has been recognized as a leader in the industry, including being named by FORTUNE Magazine as one of the World’s Most Admired Companies for Information Technology Services (2010). Headquartered in Falls Church, Va., CSC has approximately 94,000 employees and reported revenue of $16.1 billion for the 12 months ended April 2, 2010. For more information, visit the company's website at www.csc.com.
All statements in this press release and in all future press releases that do not directly and exclusively relate to historical facts constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements represent the company's intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside the company's control. These factors could cause actual results to differ materially from such forward-looking statements. For a written description of these factors, see the section titled "Risk Factors" in CSC's Form 10-K for the fiscal year ended April 3, 2009 and any updating information in subsequent SEC filings. The company disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent event or otherwise, except as required by law.