GovCon Wire publishes a number of stories every week that include executive appointments, M&A activity and earnings reports at GovCon firms.
This week, the biggest news the website covered was the sale of CSC’s base operations, aviation and range services division to PAE for $175 million in cash.The sale of the applied technology division is the sixth divestiture CSC has agreed to in the past seven months and the deal is expected to close this summer.
Other divestitures CSC has recently been involved in include the sale of its credit services unit for $1 billion, a hardware and software reselling business for $90 million and an information technology staffing unit for $73.5 million.
“The sale of ATD supports our realignment of company assets with our strategy of leading in the next generation of technology solutions and services, including cybersecurity, big data and cloud computing,” said Mike Lawrie, CSC president and CEO.
When PAE takes control of the applied technology division, 5,400 CSC employees will join the company’s ranks.
CSC took over the business unit after it acquired DynCorp in 2003 and the division recorded $760 million in revenue for fiscal year 2013.
Other divestitures CSC has recently been involved in include the sale of its credit services unit for $1 billion, a hardware and software reselling business for $90 million and an information technology staffing unit for $73.5 million.
“The sale of ATD supports our realignment of company assets with our strategy of leading in the next generation of technology solutions and services, including cybersecurity, big data and cloud computing,” said Mike Lawrie, CSC president and CEO.
When PAE takes control of the applied technology division, 5,400 CSC employees will join the company’s ranks.
CSC took over the business unit after it acquired DynCorp in 2003 and the division recorded $760 million in revenue for fiscal year 2013.
Executive Mosaic is a leader in connecting Capital-area executives through exclusive events and media, with a particular focus on the federal government contracting (GovCon) industry. In addition to weaving a fabric of private like-minded communities, the company’s growing cross-media platform serves as a leading source of news on the people, policies, trends and events shaping the GovCon sector.