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CSC to sell Australian IT unit

Dec 14
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CSC to sell Australian IT unit

CSC has announced that it has agreed to sell its Australian IT staffing unit to Adcorp, South Africa's largest employment services firm.

The company revealed that Paxus would be offloaded to help it continue with CSC's transformation strategy, which aims to rebalance its portfolio of current services that it offers to its clients.

Officials stated that the deal is worth $73.5 million (£45.5 million) and will see Adcorp improve Paxus' transition between its customers and employees. Once the deal is complete CSC has said that it will continue to work with Paxus to meet its IT staffing needs within Australia.

Mike Lawrie, president and chief executive officer of CSC, spoke of the new agreement and added: "This portfolio-shaping transaction is the latest step in CSC's transformation. We are aligning the company's resources with our strategy of leading the next generation of solutions and services."

The transaction is due to be completed by the end of January 2013.

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