CSC Finalizes Bass & Company Acquisition
News Release -- August 30, 2010
FALLS CHURCH, Va., Aug. 30 -- CSC (NYSE: CSC) today announced that it has closed the acquisition of Bass & Company, a strategy and operations consulting firm providing services to electric, gas and water utilities.
The acquisition will enable CSC to better serve global utility clients and supports CSC's strategic industry growth plan to expand the company's presence in the chemical, energy and natural resources markets. The deal between CSC and Bass & Company was announced in early August, and financial terms were not disclosed.
Under the agreement, Bass & Company’s talented group of senior industry consultants accomplished in the fields of ‘smart utility,’ revenue cycle management/utility billing and collections, energy efficiency, and distribution processes and technology will stay on as CSC employees. Bass & Company‘s CEO, Mike Bassignani, will lead CSC’s Global Utilities Division reporting to Bob Welch, president of CSC’s Chemical, Energy, and Natural Resources Group.
CSC's Chemical, Energy and Natural Resources Group — which serves utility, chemical, petroleum and natural resources companies worldwide — is a global leader in helping companies achieve strategic business objectives through the application of industry-relevant business solutions and services.
To learn more about CSC’s Utilities industry solutions, visit http://www.csc.com/utilities.
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 system 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 95,000 employees and reported revenue of $16.2 billion for the 12 months ended July 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.