CSC announces merger with enterprise services segment of HP

CSC is merging the company with the Enterprise Services segment of Hewlett Packard Enterprise (HPE). The merger is expected to be completed by the end of March 2017. The strategic combination of the two businesses will create one of the world’s largest pure-play IT services companies. The new company is expected to have annual revenues of $26 billion and more than 5,000 clients in 70 countries. Following the transaction, CSC and HPE shareholders each will own approximately 50 percent of the new company’s shares.

Source: CSC