CSC Acquires Maricom Systems
News Release -- September 01, 2011
Acquisition Strengthens CSC’s Health Informatics and Health Information Services
FALLS CHURCH, Va., Sept. 1 -- CSC (NYSE: CSC) today announced that it has acquired Maricom Systems, Inc. The company, based in Baltimore, Md., provides business intelligence and data management solutions that support mission-critical health information technology (IT) systems within the U.S. Department of Health and Human Services (HHS). Terms of the acquisition were not disclosed.
This acquisition allows CSC to expand its support of HHS efforts to implement IT improvements in the Patient Protection and Affordable Care Act. Maricom enhances CSC capabilities in the areas of healthcare informatics and data management—the cornerstones of the government health transformation initiatives.
“The addition of Maricom Systems supports CSC’s strategic focus on selected high growth areas of the U.S. federal government,” said James W. Sheaffer, president of CSC’s North American Public Sector line of business. “Healthcare is a rapidly expanding segment of the marketplace and we expect its growth to continue as the government looks for innovative solutions to reduce its cost while improving the quality of care.”
Maricom’s approximately 200 employees will be a part of CSC’s Health Services business area, which provides IT services and solutions, systems integration and operations support to HHS’ Centers for Medicare and Medicaid Services.
Investment bank KippsDeSanto acted as the sole financial advisor to Maricom Systems for this acquisition.
CSC is a global leader in providing technology-enabled business solutions and services. Headquartered in Falls Church, Va., CSC has approximately 93,000 employees and reported revenue of $16.2 billion for the 12 months ended July 1, 2011. 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 1, 2011 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.