CSC Signs Major Three-year IT Services Contract Extension with Textron
News Release -- November 16, 2010
FALLS CHURCH, Va., Nov. 16 -- CSC (NYSE: CSC) today announced a three-year extension to its global information technology (IT) outsourcing agreement with Textron Inc. (NYSE: TXT). The extension, which was awarded during CSC’s fiscal 2011 second quarter, is valued at $387 million and extends the original agreement through January 2018.
As part of the agreement, CSC and Textron will deploy a series of innovative new technologies to drive value and performance for Textron.
Under the extension, CSC will also continue to provide IT infrastructure services including management and support of Textron’s global data centers, technology help desk and network operations, as well as mainframe and midrange systems, desktops and engineering workstations. These services have resulted in continued cost reductions over the course of the partnership, while delivering high quality IT services to Textron’s businesses.
The original 10-year agreement was awarded to CSC in 2005, and since then the partnership has continued to expand globally.
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron in known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. More information is available at http://www.textron.com.
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 94,000 employees and reported revenue of $16.1 billion for the 12 months ended October. 1, 2010. For more information, visit the company’s website at www.csc.com.