Computer Sciences Corporation (NYSE:CSC), a global leader in next-generation IT services and solutions, today announced its intent to acquire Aspediens, Europe’s leading provider of technology-enabled solutions for the service-management sector and a preferred partner of ServiceNow.
Aspediens will join the CSC ServiceNow practice within Fruition Partners, a CSC company and global ServiceNow platform that also includes UXC Keystone, Australia’s market leading ServiceNow practice within UXC, a CSC company. The combined platform cements CSC’s position as the number one ServiceNow integrator in the world. The Aspediens transaction is expected to close June 30, 2016, subject to customary closing conditions.
Combining the ServiceNow expertise of Aspediens and its strong reputation in the market with the local coverage, penetration and extensive skill portfolio of CSC extends the company’s leadership position in the fast-growing enterprise software-as-a-service (SaaS) market. It also addresses growing client demand for better, faster and more efficient service-management capabilities across process, applications and infrastructure – both traditional and cloud-enabled.
“We look forward to welcoming the Aspediens team to CSC,” said Jim Smith, executive vice president and general manager, Global Business Services, CSC. “As a part of Fruition Partners, Aspediens will also join UXC Keystone as critical components of an unmatched global ServiceNow practice. CSC is now at the forefront of helping modern enterprise optimize technology to manage work in an ‘as a service’ world.”
Michel Regueiro, CEO of Aspediens, stated, “The journey of Aspediens and our loyal customers will take a significant leap forward when we join CSC and its global ServiceNow offering. Our customers will gain a stronger resource base, access to exclusive IP, and extensive industry expertise, among many other benefits. We are proud to bring our talent and relationships to this growing 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.” Talluto will continue to lead CSC’s global ServiceNow practice, reporting to Smith.
“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. “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.” (Original Source)
Shares of Computer Sciences closed last Friday at $35.01, up $0.57 or 1.66%. CSC has a 1-year high of $71.15 and a 1-year low of $24.27. The stock’s 50-day moving average is $33.50 and its 200-day moving average is $34.39.
On the ratings front, CSC has been the subject of a number of recent research reports. In a report issued on May 19, Jefferies Co. analyst Jason Kupferberg reiterated a Buy rating on CSC, with a price target of $36, which represents a slight upside potential from current levels. Separately, on April 13, Wells Fargo’s Edward Caso reiterated a Hold rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jason Kupferberg and Edward Caso have a total average return of 10.9% and 1.0% respectively. Kupferberg has a success rate of 72.0% and is ranked #166 out of 3842 analysts, while Caso has a success rate of 70.0% and is ranked #2044.
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.