CSC Australia adds 350 staff after $846m acquisition

CSC Australia has revealed 350 people will be added to its ranks after the global acquisition of software and service provider Xchanging.

Overnight in the US, CSC announced that Xchanging shareholders, both boards and regulators have now approved the acquisition. The completion of the due diligence process that started in November sees CSC buy AU$846 million (£433 million) worth of Xchanging shares, representing a 91.88 percent stake.

Xchanging is best known for its software Xuber, which is used in the insurance industry.

"Today’s announcement builds on CSC’s recent acquisition of UXC, which gives Australian insurance customers access to a deep range of capabilities in Oracle, Microsoft, Service Now and SAP," said CAC Australia managing director Seelan Nayagam.

"CSC will now be able to offer insurance customers flexible ways to meet the requirements of their digital transformation journeys - from managing legacy infrastructure, through to cutting edge automation and robotics."

Nayagam said that the London-headquartered Xchanging will bring over "a highly skilled and talented" 350-staff Australian team to CSC.

Jamie Macgregor, global insurance senior vice president at research and consulting firm Celent, said: “For Xchanging clients, CSC brings with it a whole new set of capabilities and skills relevant to its own segment of the market, in areas such as digital transformation, cloud orchestration and broader technology services.”

The Xchaging deal marks the latest in a busy period of acquisition for CSC. Its blockbuster $427 million buyout of UXC completed in February, while March saw CSC acquire Canberra security provider Dalmatian Group for an undisclosed amount.