CSC has completed its $427.6 million acquisition of UXC, forming one of the largest IT services companies in the region.
The acquisition was accepted by UXC shareholders, with approval by CSC and UXC boards and Australian regulators.
“Together, CSC and UXC will be capable of leading the most challenging projects for our clients, and – at the same time – creating exciting opportunities for our people,” CSC chairman, president and CEO, Mike Lawrie, said.
The acquisition process began taking shape in October and in February, CSC bought and paid for all of UXC’s 345 million shares for $1.22 per share with a franked dividend of $0.02 for the December half year, valuing the transaction at about $427.6 million.
Founder of advisory firm, capioIT, Phil Hassey, said acquiring UXC in Australia, has significantly enhanced CSC’s capabilities in application platforms such as SAP, Oracle and Microsoft. It will also be able to offer global expertise to the UXC install base, particularly mid-market organisations, as they make the shift to a digital-enabled economy.
The addition of UXC further advances CSC’s growth strategy and the momentum created with the separation of the company’s U.S. Federal Government business and the recent acquisitions of Fixnetix and Fruition Partners, along with CeleritiFinTech, CSC’s joint venture with HCL.