ITOCHU Acquires IT Service Providers in Malaysia and Singapore
Tokyo, Feb 25, 2013 (JCN) - ITOCHU Corporation and ITOCHU Techno-Solutions Corporation have agreed to acquire a 100% stake in CSC ESI Sdn Bhd of Malaysia (CSC ESI) and CSC Automated Pte. Ltd. of Singapore (CSC Automated), which are affiliated with Computer Sciences Corporation (CSC), a major IT service provider in the United States. An agreement for the acquisition, for a total of 90 million U.S. dollars, has been concluded.
CSC ESI and CSC Automated are large and established businesses that operate locally in Malaysia and Singapore, respectively. In addition to boasting good customer bases, including financial institutions, manufacturers, and government agencies, these companies deal with a wide array of products from major IT manufacturers in North America and have strength in the development of IT infrastructure and the provision of maintenance services.
The businesses have much in common with CTC's business models in Japan. By acquiring the two companies, ITOCHU and CTC will expand their business in the field of telecommunications, in which CTC has strength in Japan, and provide corporate clients based in Southeast Asia with the same level of service as that offered in Japan.
ITOCHU places emphasis on Southeast Asia as a growth market in the information and communication field. By acquiring CSC ESI and CSC Automated, ITOCHU will combine the business bases of the two companies with its related domestic and overseas businesses and various networks so as to expand its IT service businesses across the region.
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