An agreement was recently reached by CSC and Itochu Techno-Solutions Corporation (CTC) together with the ITOCHU Corporation for the sale of the Enterprise Systems Integration (ESI) unit at CSC. ESI is a reseller of enterprise software and hardware as well as a maintenance service provider for the Malaysian and Singaporean operations of the firm.
The sale is expected to top US$90 million in cash and is the fourth sale made by CSC in the last four months. The move is but another step by the company to rebalance its service portfolio to become more competitive in the market. The sale is expected to be completed by the end of March 2013.
ESI's 2012 performance showed revenue of US$180 million using mid-single digit operation margins. For 2013 though, the results would be reformulated as the divestiture becomes final as this figure was initially reported in the CSC Business Solutions and Services sector.
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