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CSC Continutes Expansion in Italy, Acquires Four IT Services Companies

 

El Segundo, Calif., March 23 -- Computer Sciences Corporation (NYSC: CSC) today announced that it has acquired four information technology services and consulting companies in Italy.

The companies, Progres 2, Progres Iniziativa, Progres Progetti, and Progres Veneto, will operate under the new name of CSC Progres and will be headquartered in Milan. CSC Progres, with offices in Padua, Rome, Bologna, Ravenna and Trento, will report to CSC's European Group, headquartered in Farnborough, UK. Financial terms of the acquisition were not disclosed.

The four companies, which had been part of Gruppo Progres, had 1998 revenues of $62 million (Italian Lira 105 billion), and employ approximately 700 information technology systems and consulting professionals. The group derives about 70 percent of its revenues from systems integration and application development activities, with the remaining revenues generated by sales of software and hardware, outsourcing and consulting activities.

With the newly acquired companies, CSC continues its rapid expansion into the Italian market and strengthens its presence in Europe. Earlier this month, CSC acquired Informatica Group SpA, headquartered in Turin. Informatica, with revenues of $30 million (Italian Lira 53 billion) and over 500 professionals, provides a full range of I/T services to the Italian banking and finance, industrial, telecommunications, insurance and public sectors.

"The Progres companies are among the most respected, dynamic and rapidly growing firms in the Italian I/T market," said Van B. Honeycutt, CSC's chairman, president and CEO. "Their capabilities are a perfect blend with CSC's. Their flexibility in client relationships and passion to deliver what customers require complement our approach to delivering tailored business solutions."

The companies forming part of Gruppo Progres provide a wide range of I/T solutions. These include the implementation of ERP systems in the telecommunications and banking sectors using business process redesign methodologies and groupware; the development and implementation of information systems and vertical industry applications; and the provision of proprietary solutions in industrial and logistics services and the apparel and footware sectors. More information on the group's capabilities is available at www.progres.it

"Our deal with CSC recognizes the professionalism and success of Gruppo Progres in recent years," said Daniele Carboni, founder and president of the group. "With access to CSC's global capabilities, Progres employees will have the opportunity to develop their knowledge and skills in an international environment. CSC will now be in an even better position to address the challenges of the rapidly evolving Italian marketplace."

CSC's acquisitions in Italy follow several other recent European acquisitions by the company. Last fall, CSC acquired KPMG Peat Marwick SA, a Paris-based management consulting and information technology services firm. During December, the company strengthened its presence in Germany with the acquisition of Pergamon Gesellschaft fur angewandte Informatik mbH, an I/T consulting firm headquartered in Wurzburg specializing in the financial services market. In the same month, CSC acquired SYS-AID, a Netherlands-based management consulting and information technology services firm with more than 260 professionals in offices in the Netherlands, Germany and Belgium.

Computer Sciences Corporation helps clients in industry and government use information technology to achieve strategic and operational objectives. The company develops individual business solutions that are delivered by CSC's 50,000 employees in more than 700 offices worldwide in areas such as management and information technology consulting, systems consulting and integration, operations support and information services outsourcing.

Since its formation in 1959, CSC has been known for its flexibility in its relationships with clients. The company maintains numerous agreements with hardware and software technology companies and thus is able to identify and manage solutions specifically tailored to each client's needs. CSC had revenues of $7.4 billion for the twelve months ended January 1, 1999. Its headquarters are in El Segundo, California. For more information, visit the company's web site at www.csc.com


Computer Sciences Editorial Contact
generalinformation@csc.com

 

 

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