CSC To Acquire Tech-Outsourcing Company Image Solutions

Date : 12/06/2010 @ 9:04AM
Source : Dow Jones News
Stock : Computer Sciences Corp. (CSC)
Quote : 69.01  0.0 (0.00%) @ 2:05AM

CSC To Acquire Tech-Outsourcing Company Image Solutions

Computer Sciences (NYSE:CSC)
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CSC (CSC) will acquire privately held information-technology outsourcing company Image Solutions Inc., a deal expected to expand CSC's reach in the life-sciences sector.

Image Solutions founder and Chief Executive Jinsoo Kim said, "The combination of these companies will establish CSC as a strong player in health-care IT."

CSC, which provides IT services from consumer-credit information to online-data security, has benefited lately from increased outsourcing. Buying Image Solutions will help it grow in the health-care business, since the U.S. government is pushing for increased digitization of records and payers are looking to cut health-care costs.

CSC last month reported its fiscal second-quarter earnings fell 15% on weaker revenue and margins along with sharply higher taxes. However, it raised its full-year guidance.

Shares closed Friday at $47.10 and were inactive premarket. The stock is down 18% this year.

-By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com

 
 

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