Bloomberg is reporting speculation that publicly traded Computer Sciences Corp (CSC) may be the target of PE buyout funds.
CSC was founded in 1959 to make assemblers, compilers, and operating systems for mainframe computers. Its main business today is IT systems integration for governments and companies, employing 17K people in 70 countries and turning over USD 13 bn in sales.
The take private rumors drove the stock price to USD 8.65 billion. Even at that price, it is still not the largest such deal in recent times, says Bloomberg. That title goes to the Dell LBO last year which was valued at USD 16 bn.
CSC technology consultant for governments and companies. PE funds mentioned in the report are Blackstone Group LP (BX) and Bain Capital. (Image source: CSC website)