CSC Finalizes Image Solutions, Inc. Acquisition
News Release -- January 12, 2011
FALLS CHURCH, Va., Jan. 12 – CSC (NYSE: CSC) today announced it has closed the acquisition of Image Solutions, Inc., (ISI) a privately-held, global leader in regulatory submission management solutions and related implementation and outsourcing services for the Life Sciences sector. The acquisition supports the CSC Health Care strategic growth plan by expanding the company's presence in the Life Sciences sector. Financial terms of the deal were not disclosed.
ISI’s offerings, such as eCTDXPress, ISIPublisher and Reg Tracker, combined with CSC’s enterprise content management offerings FirstDoc and FirstPoint, will provide an integrated, end-to-end business solution for electronic regulatory submissions. Additional capabilities will also include integrated solutions that leverage ISI’s Life Sciences industry expertise with CSC’s established Cloud/SaaS capabilities.
CSC and ISI have joined forces to improve the flow of countless drug approval submissions by offering both business benefit and quicker access to pharmaceutical innovations for patients around the world.
“We believe companies in the Life Sciences sector will benefit from the availability of offerings that are focused on streamlining and accelerating the processes related to regulatory approval of new drugs,” said Mark Roman, president of CSC’s Healthcare Group. “The costs associated with the drug approval process are driven by complexity and time, both of which can be materially improved, through greater automation, global consistency and supporting documentation which is auditable.”
With more than 500 employees specializing in regulatory business process outsourcing (BPO), software design and integration, professional services solutions, and with a strong leadership team and offices in the U.S., U.K., Germany, China and Korea, ISI enhances CSC’s capability to support existing customers and adds a robust set of new clients. ISI’s operations in China, for example, add 300 BPO and software development employees to CSC’s existing China organization. ISI's Korean operations also add to CSC’s global reach and growing presence in the Asian market.
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.
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 2, 2010 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.