Computer Sciences Corporation (CSC) is an American multinational corporation that provides information technology (IT) services and professional services. Its headquarters are located in Falls Church, Virginia. CSC has 66,000 employees in over 60 countries. Its clients include commercial enterprises and the U.S. federal government, as well as state, local and non-U.S. government agencies.
Upon the closing of the proposed merger between Computer Sciences Corp (CSC) and the Enterprise Services business of Hewlett Packard Enterprise (HPE), the new organisation will be renamed to DXC Technology before it begins its journey as a $26 billion IT services giant.
The completion of the merger is slated for April 3, 2017, which will see DXC Technology list on the New York Stock Exchange under the ticker symbol DXC, subject to final approvals. Current CSC chairman, president, and CEO Mike Lawrie will serve as DXC Technology chairman, president, and CEO upon the close of the impending merger.
"With a mission of leading clients on their digital transformation journeys, DXC Technology will be recognised globally as a force multiplier, enabling clients to seize the opportunities presented by today's rapidly changing technologies," Lawrie said in a statement on Wednesday
In September 2009, when Xerox acquired Affiliated Computer Services, CSC became the only remaining major "hardware vendor independent" IT service provider with headquarters and major operations in the U.S.
CSC has been a Fortune 500 company since 1995, ranked 185 in the 2014 rankings. The company also figures in the Forbes Global 2000 list.
On May 24, 2016, CSC announced that it will merge with Hewlett Packard Enterprise's Enterprise Services division to create a new pure-play IT services company.
On February 15, 2017, an internal company memo from Mike Lawrie announced the name of the merged company - DXC Technology.
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History
CSC was founded in April 1959 in Los Angeles, California, by Roy Nutt and Fletcher Jones. CSC initially provided programming tools such as compiler and assembling software.
In the 1960s, CSC provided software writing services to major computer manufacturers like IBM and Honeywell and secured their first contracts for the U.S. public sector with NASA (among others).
By 1963, CSC became the largest software company in the United States and the first software company to be listed on the American Stock Exchange. By the end of 1968, CSC was listed on the New York Stock Exchange and had operations in Canada, India, the United Kingdom, Germany, Spain, Italy, Brazil, and the Netherlands.
In the 1970s and 1980s, CSC expanded globally winning large contracts for the finance and defense industries and through acquisitions in Europe and Australia.
Since its beginnings in 1959, company headquarters had been in California. On March 29, 2008, the corporate headquarters of the company were relocated from El Segundo, California, to Annandale, Virginia. CSC has been a Fortune 500 Company since 1995, coming in at 162 in the 2012 rankings.
In May 2015, CSC announced plans to split the public sector business from its commercial and international business. In August, it was announced that CSC's Government Service business would merge with SRA International to form a new company -- CSRA--at the end of November 2015.
In July 2015, CSC and HCL Technologies announced the signing of a joint venture agreement to form a banking software and services company, Celeriti FinTech.
In September 2015, CSC closed the acquisition of Fixnetix, a provider of front-office managed trading solutions in capital markets. CSC also acquired Fruition Partners, a provider of technology-enabled solutions for the service-management sector during the month.
In November 2015, CSC agreed to acquire the shares of UXC, an IT services company based in Australia in a deal valued at AUD427.6 million (US$309 million).
In December 2015, business technology and services provider, Xchanging, agreed to be purchased by CSC.
In February 2016, CSC announced it was moving its headquarters to Tysons, Fairfax County's central business district, just a few miles from Annandale.
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Business
CSC employs about 56,000 employees (as of February 2016) in 60 countries and ranks among the leading IT service providers in the world. Geographically, CSC has major operations throughout North America, Europe, Asia, and Australia.
The company operates in three broad service lines or sectors:
- North American Public Sector (NPS): Since 1961, CSC has been one of the major IT service providers for the U.S. federal government. CSC provides services to the United States Department of Defense, law enforcement and intelligence agencies (FBI, CIA, Homeland Security), aeronatics and aerospace agencies (NASA). In 2012, U.S. federal contracts accounted for 36% of CSC total revenue.
- Managed Services
- Business Solutions and Services
The company has made several acquisitions, including DynCorp in 2003 and Covansys Corporation in 2007.
Awards/ recognition
- In September 2012, CSC was ranked 8th in Software Magazine's Software 500 ranking of the world's largest software and service providers.
Criticism
- In June 2013, Margaret Hodge, chair of the Public Accounts Committee, a Select Committee of the British House of Commons, described CSC as a "rotten company providing a hopeless system" with reference to their multibillion-pound contract to deliver the National Programme for IT Lorenzo contract.
- In December 2011, the non-partisan organization Public Campaign criticized CSC for spending $4.39 million on lobbying and not paying any taxes during 2008-10, instead getting $305 million in tax rebates, despite making a profit of $1.67 billion.
- In February 2011, the U.S. Securities and Exchange Commission (SEC) launched a fraud investigation into CSC's accounting practices in Denmark and Australian business. CSC's CFO Mike Mancuso confirmed that accounting errors and intentional misconduct by certain personnel in Australia prompted SEC regulators to turn their gaze to Australia. Mancuso also stated that the alleged misconduct includes $19 million in both intentional accounting irregularities and unintentional accounting errors.
- The company has been accused of breaching human rights by arranging several illegal rendition flights for the CIA between 2003 and 2006, which also has led to criticism of shareholders of the company, including the governments of Norway and Britain.
- The company has engaged in a number of activities that have resulted in legal action against it. These are:
- Millions of visas allowing foreigners to enter Britain are being issued by CSC rather than by British diplomats.
- CSC was one of the contractors hired by the Internal Revenue Service to modernize its tax-filing system. They told the IRS it would meet a January 2006 deadline, but failed to do so, leaving the IRS with no system capable of detecting fraud. Its failure to meet the delivery deadline for developing an automated refund fraud detection system cost the IRS between $200 million and $300 million.
Source of the article : Wikipedia
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