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Computer Sciences Corporation
CSC
and Xchanging Plc.
XCNGF
today announced that the boards of each company have agreed to terms of
a recommended transaction under which CSC (through a UK subsidiary)
would acquire Xchanging at a price of £1.90 per share in cash, implying
an equity value of £480 million, or approximately US$720 million. The
acquisition is expected to close in the next six months pending receipt
of regulatory approvals.
The combination represents an attractive opportunity to combine CSC's
global scope in insurance, business process outsourcing (BPO) and IT
services with Xchanging's specific expertise and leading software
products that support the commercial insurance industry.
See full press release© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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