CSC harvests Figtree
- 08 October, 2002 10:43
CSC Australia has signed an exclusive distribution agreement with local software developer and professional services outfit Figtree Systems.
For several weeks the IT industry has been rife with speculation that CSC was about to acquire the Sydney-based company, but it has instead opted to do the next best thing. CSC has acquired the exclusive distribution rights to Figtree products in Australia, as per an agreement signed on Thursday, which will be announced to the market tomorrow.
Figtree Systems designs and develops software for risk management, insurance, fleet management, and legal systems software, but was most attractive to CSC due to the solutions its team has developed for workers compensation management.
Figtree has offices in Sydney, Melbourne, Adelaide, Queensland, New Zealand and London, and employs more than 80 staff. CSC is now holding introductory briefings with these staff and Figtree customers to discuss the ramifications of the deal.
Neither CSC nor Figtree were available for comment on the matter, at least until the agreement is made official and publicly released tomorrow.
CSC released a brief media statement to ARN in which it said it has acquired the exclusive distribution rights to Figtree's products in Australia. Figtree will focus on product development and endeavour to remain independent, the statement added.