Computer Sciences Corporation (NYSE:CSC), a global leader in next-generation IT services and solutions, today announced it has closed the acquisition of Aspediens, Europe’s leading provider of technology-enabled solutions for the service management sector and a preferred partner of ServiceNow. Aspediens will join Fruition Partners, a CSC company and CSC’s world-leading ServiceNow practice.
The combined strength of Fruition Partners with Aspediens and UXC Keystone gives CSC the scale, reach, industry penetration and extensive skill portfolio to own an extraordinary leadership role in the fast-growing enterprise software-as-a-service (SaaS) market. This makes CSC well positioned to address growing client demand for better, faster and more efficient service-management capabilities across process, applications and infrastructure – both traditional and cloud-enabled.
“We welcome the Aspediens team to Fruition Partners and to CSC,” said Jim Smith, executive vice president and general manager, Global Business Services, CSC. “Together, Fruition Partners with Aspediens and UXC Keystone provides enterprise clients with end-to-end support for ServiceNow-related software and solutions, as well as a broader range of professional service management offerings. CSC is at the forefront of helping modern enterprises optimize technology to manage work, giving our clients access to an expanded range of XaaS capabilities.”
Michel Regueiro, CEO of Aspediens, stated, “Being a part of the world’s leading ServiceNow integrator is a significant step forward for the Aspediens family and our loyal clients, who gain a stronger resource base, access to exclusive IP, and extensive industry expertise among many other benefits. We are very excited to join CSC and Fruition Partners, and look forward to bringing our talent and relationships to this growing global practice.”
Marc Talluto, co-founder of Fruition Partners, said: “We are thrilled to accelerate our global growth with the addition of the Aspediens team in Europe. Over the years we have gotten to know each other well. Our cultural match, shared vision and capabilities for Enterprise Service Management on the ServiceNow platform will benefit our customers in mainland Europe and around the world.”
Regueiro will continue to lead the Aspediens team and will report to Talluto, who leads CSC’s global ServiceNow practice and reports to Smith.
With headquarters in Switzerland, Aspediens has operations in Germany, France and Spain.
“Adding Aspediens to its ServiceNow practice underscores CSC’s commitment to creating the leading global services practice in the enterprise service management space, and to leveraging the promise of a world-class partner ecosystem,” said David Schneider, CRO, ServiceNow in CSC’s announcement of intent to acquire Aspediens on May 23, 2016. “Aspediens is a trusted partner of ServiceNow in Europe with excellent customer satisfaction scores, and we expect that our shared customers will benefit from the addition to CSC’s global ServiceNow portfolio.”
ServiceNow, at its Annual Global PartnerNow Summit, recognized Fruition Partners as having the highest number of ServiceNow deployments in 2015. Fruition Partners also owns the highest customer satisfaction score amongst ServiceNow global partners. (Original Source)
Shares of CMC closed last Friday at $49.43, down $0.22 or -0.44%. CSC has a 1-year high of $52.55 and a 1-year low of $24.27. The stock’s 50-day moving average is $47.08 and its 200-day moving average is $35.20.
On the ratings front, CMC has been the subject of a number of recent research reports. In a report issued on June 27, BMO analyst Keith Bachman maintained a Buy rating on CSC. Separately, on June 24, Cantor Fitzgerald’s Joseph Foresi reiterated a Hold rating on the stock and has a price target of $46.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Keith Bachman and Joseph Foresi have a total average return of 13.0% and -0.3% respectively. Bachman has a success rate of 55.8% and is ranked #120 out of 4010 analysts, while Foresi has a success rate of 43.3% and is ranked #2627.
Overall, 4 research analysts have assigned a Hold rating and 3 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $42.67 which is -13.7% under where the stock closed last Friday.
Computer Sciences Corp. provides information technology solutions. It operates through three business segments: Global Business Services, Global Infrastructure Services and North American Public Sector. The Global Business Services segment provides technology solutions including consulting, applications services, and software. The Global Infrastructure Services segment provides managed and virtual desktop solutions, unified communications and collaboration services, data center management, cyber security, cloud solutions, cloudmail and storage as a Service, compute and managed storage solutions. The American Public Sector segment offers information technology, mission, and operations-related services to the department of defense, civil agencies of the U.S. federal government, as well as state and local government agencies.