EDGE 2015 is starting in

Find out more EDGE 2015
Menu
CSC Australian IT staffing unit Paxus sold for $US73.5 million

CSC Australian IT staffing unit Paxus sold for $US73.5 million

This is part of the company’s strategy to ‘rebalance’ its services portfolio.

IT services provider, CSC has sold its Australian IT staffing unit, Paxus to South African employment services company, Adcorp for about $US73.5 million in an all-cash transaction.

This is CSC’s third divestiture in seven weeks and is part of the company’s strategy to ‘rebalance’ its services portfolio.

"We are aligning the company's resources with our strategy of leading the next generation of solutions and services," CSC president and CEO, Mike Lawrie, said in a statement. "We do not anticipate any impact on CSC’s core services and clients in Australia, and we expect to use after-tax proceeds for general corporate purposes."

Once the transaction is closed at the end of January, CSC will continue a business relationship with Paxus to meet its IT staffing needs in Australia.

In fiscal 2012, revenue from Paxus was approximately $340 million with low single-digit operating margins. Results had been previously reported within CSC’s Business Solutions and Services segment and will be recast as discontinued operations in future periods.

CSC acquired Continuum and its Melbourne-based Paxus business unit in 1996.

Earlier this month, CSC sold its credit services unit to Equifax for $US1 billion.

In October, the company sold its consulting and systems integration services part of its Italian business to Italian IT services company, Dedagroup.

EDGE 2015:: For all the latest on EDGE 2015 including the keynote speakers visit the EDGE mini-site now

Follow Us

Join the ARN newsletter!

Error: Please check your email address.

Tags CSC Australiadivest

Upcoming

Slideshows

In Pictures: 7 things we hate about Twitter

In Pictures: 7 things we hate about Twitter

You probably either love Twitter for its quirkiness and brevity or see it as a pointless waste of time. After nearly a decade on the social scene, Twitter still needs to improve its user experience and fill in notable gaps in the service. These seven problems are long overdue for a fix.

In Pictures: 7 things we hate about Twitter
IN PICTURES: EDGE 2015 - Sponsor Briefing

IN PICTURES: EDGE 2015 - Sponsor Briefing

With EDGE 2015 rapidly approaching, ARN and Reseller News NZ held a Sponsors Briefing where ARN publisher and president, Susan Searle, and Events Manager, Alexandra West, ran through the considerable logistics in detail. Attendees then enjoyed some splendid canapes and drinks. EDGE is designed to bring the A/NZ channel together in a collaborative and educational environment. Themed around channel channel leadership, EDGE will be held at the Sheraton Mirage, Port Douglas, July 20-23. Photos by MIKE GEE.

IN PICTURES: EDGE 2015 - Sponsor Briefing
In Pictures: Robots that cook, clean, sing and dance

In Pictures: Robots that cook, clean, sing and dance

Cooking, learning language and doing the laundry are a few of the human skills demonstrated by.real humanoid bots featured in the National Geographic movie Robots.

In Pictures: Robots that cook, clean, sing and dance

iasset.com is a channel management ecosystem that automates all major aspects of the entire sales, marketing and service process, including data tracking, integrated learning, knowledge management and product lifecycle management.

Show Comments