Attention Business Editor:
CSC Acquires CSA Holdings, Large I/T Company in Asia
EL SEGUNDO, Calif., Feb. 4 /CNW/ -- Computer Sciences Corporation (NYSE: CSC) announced today that it has acquired, or agreed to acquire, 51% of CSA Holdings Ltd. (SES: CSAH), one of the largest information technology services companies in Asia. The Singapore-based firm has approximately U.S. $270 million in annual revenue, 2,000 employees and 128 million shares outstanding.
"This acquisition is an important step in building a major presence for CSC in Asia over the next several years," said Van B. Honeycutt, CSC's chairman, president and chief executive officer. "We are extremely pleased to have CSA, its management and its staff of professionals join CSC."
Johnny Moo Kwee Chong, a founding member of CSA, is the group's managing director. He has 35 years of experience in the information technology
services business and is well known throughout the global information
technology industry.
"The combination of CSA and CSC will be a very powerful force in Asia, what with CSA's extensive territorial coverage and customer base in Asia and CSC's technology strength, particularly in outsourcing and high level strategic consulting," said Johnny Moo. "It will be an exciting time ahead as these will be areas of substantial I/T growth for the new Asia."
CSC made a public tender offer for CSA Holdings' shares at U.S. $0.62 (S $1.02) per share Jan. 5, 1999. The offer was conditioned on receiving enough shares to give CSC a majority of the shares outstanding or issuable upon the exercise of outstanding options.
Besides Singapore, CSA does the majority of its business in Hong Kong, Indonesia, Malaysia, the People's Republic of China, the Philippines and Taiwan, and works closely with information technology companies in Japan and other parts of Asia. CSA also has subsidiaries and does business in
Australia, Canada and the United States, and has smaller or representative offices in France, Myanmar and Vietnam.
The company, which was founded in 1970, provides systems consulting and integration services; information technology products and customer services; distribution of hardware, software and networking products; and general information services. "In addition to being an ideal geographic fit with CSC, CSA will be an excellent strategic partner as we work with our global customers, like DuPont and J.P. Morgan, in Asia," said Honeycutt.
He said that CSC intends to expand in Asia through a combination of other acquisitions, joint ventures and new outsourcing contracts with global clients.
Computer Sciences Corporation helps clients in industry and government use information technology to attain strategic and operational objectives. The company develops individualized business solutions that are delivered by CSC's 47,000 employees in 700 offices worldwide in areas such as information technology management consulting, systems consulting and integration, operations support and information services outsourcing.
Since its founding in 1959, CSC has been known for its flexibility in its relationships with clients. The company has no exclusive agreements with hardware or software technology companies and thus is able to identify and manage solutions specifically tailored to each client's needs. Headquartered in El Segundo, California, CSC had revenues of $7.4 billion for the twelve months ended January 1, 1999. For more information, visit the company's web site at www.csc.com.
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Attention Business And Technology Editors:
TAVA Technologies Selected by CSC to Support Program for Government of Canada
ENGLEWOOD, Colo., Jan. 26 /CNW/ -- TAVA Technologies, Inc.
(Nasdaq: TAVA) a global supplier of automation and information technology solutions for industry, today announced that it has been selected by Computer Sciences Corp. (NYSE: CSC) to supply its PlantY2kOne(TM) products and services to address embedded systems as part of CSC's Y2k program activity with the Canadian Federal Government. Initial orders include products, services and training to support programs at specific national departments.
John Jenkins, TAVA CEO said, "The Canadian Federal Government has an aggressive and comprehensive Y2k program in place. We are pleased to be part of the CSC team in providing solutions to the embedded system issues. We have worked and are working closely with CSC in alliance on a number of Y2k opportunities and anticipate additional joint success."
TAVA (www.tavatech.com) provides factory automated and control systems integration helping clients in manufacturing and process industries integrate their processes, applications, hardware and software into seamless
manufacturing enterprises. Located in 14 regional offices throughout the U.S., TAVA has a staff of more than 550.
Statements made in this Press Release that are not historical or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of federal securities laws. Forward-looking statements represent management's best judgement as to what may occur in the future, but aresubject to certain risks and uncertainties that could cause actual results and events to differ materially from those presently anticipated or projected. These risks and uncertainties include those discussed in the "Management's Discussion and Analysis" section of the Company's Annual Report on Form 10-KSB for the fiscal year ended June 30, 1998 and in any subsequent reports filed with the Securities and Exchange Commission, to which reference should be made.
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