Computer Sciences Corporation

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File:Old CSC headquarters.jpg
CSC's former headquarters in El Segundo, California, USA (branch office after 2008)

Computer Sciences Corporation (CSC) was an American multinational corporation that provided information technology (IT) services and professional services. On April 3, 2017, it merged with the Enterprise Services line of business of HP Enterprise (formerly Electronic Data Systems) to create DXC Technology.[1][2]

History

CSC was founded in April 1959 in Los Angeles, California, by Roy Nutt and Fletcher Jones.[3] CSC initially provided programming tools such as assembler and compiler software.[4]

In the 1960s, CSC provided software programming services to major computer manufacturers like IBM and Honeywell and secured their first contracts for the U.S. public sector with NASA (among others).[4]

By 1963, CSC became the largest software company in the United States and the first software company to be listed on the American Stock Exchange.[5] By the end of 1968, CSC was listed on the New York Stock Exchange and had operations in Canada, India, the United Kingdom, Germany, Spain, Italy, Brazil, and the Netherlands.

In 1967, CSC set up Computicket Corp. to compete in the fledgling electronic ticket market competing with Ticketron but lost $13 million and discontinued the service in 1970.[6]

In the 1970s and 1980s, CSC expanded globally winning large contracts for the finance and defense industries and through acquisitions in Europe and Australia.

In 2000 CSC founded a joint-venture called Innovative Banking Solutions AG[7] in Wiesbaden, Germany to market their newly developed SAP solution for mortgage companies.

Since its beginnings in 1959, company headquarters had been in California. On March 29, 2008, the corporate headquarters of the company were relocated from El Segundo, California, to Falls Church, Virginia.[8][9] CSC has been a Fortune 500 Company since 1995,[10] coming in at 162 in the 2012 rankings.[11]

In fiscal 2013, CSC acquired ServiceMesh (cloud management) for $282M, Infochimps (a big data platform) for $27M, 42Six (analytics for national intelligence) for $35 million, iSOFT (application solutions) for cash and debt, and AppLabs (application testing) for $171M.[12]

In May 2015, CSC announced plans to split the public sector business from its commercial and international business.[13] In August, it was announced that CSC's Government Service business would merge with SRA International to form a new company -- CSRA—at the end of November 2015.[14]

In July 2015, CSC and HCL Technologies announced the signing of a joint venture agreement to form a banking software and services company, Celeriti FinTech.[15][16]

In September 2015, CSC closed the acquisition of Fixnetix, a provider of front-office managed trading solutions in capital markets.[17] CSC also acquired Fruition Partners, a provider of technology-enabled solutions for the service-management sector during the month.[18]

In November 2015, CSC agreed to acquire the shares of UXC, an IT services company based in Australia in a deal valued at Template:AUD (Template:US$).[19]

In December 2015, business technology and services provider, Xchanging, agreed to be purchased by CSC.[20]

In February 2016, CSC announced it was moving its headquarters to Tysons, Fairfax County's central business district, just a few miles from Annandale.[21]

On April 3, 2017, it merged with HPE Enterprise Services to create DXC Technology.[1][2]

Business

CSC ranked among the leading IT service providers in the world.[22][23][24] Geographically, CSC had major operations throughout North America, Europe, Asia, and Australia.

The company operated in three broad service lines or sectors until the 2015 divestment of NPS, its public sector:

The company made several acquisitions, including DynCorp in 2003[28][29] and Covansys Corporation in 2007.[30]

Awards and recognition

  • In September 2012, CSC was ranked 8th in Software Magazine’s Software 500 ranking of the world’s largest software and service providers.[31]

Criticism

  • In June 2013, Margaret Hodge, chair of the Public Accounts Committee, a Select committee of the British House of Commons, described CSC as a "rotten company providing a hopeless system" with reference to their multibillion-pound contract to deliver the National Programme for IT Lorenzo contract.[32]
  • In December 2011, the non-partisan organization Public Campaign criticized CSC for spending Template:US$ on lobbying and not paying any taxes during 2008–10, instead getting Template:US$ in tax rebates, despite making a profit of Template:US$.[33]
  • In February 2011, the U.S. Securities and Exchange Commission (SEC) launched a fraud investigation into CSC's accounting practices in Denmark and Australian business. CSC's CFO Mike Mancuso confirmed that accounting errors and intentional misconduct by certain personnel in Australia prompted SEC regulators to turn their gaze to Australia. Mancuso also stated that the alleged misconduct includes Template:US$ in both intentional accounting irregularities and unintentional accounting errors.[34] The SEC accused the former CEO Mike Laphen of fraud and clawed back $4,35 million[35]
  • The company has been accused of breaching human rights by arranging several illegal rendition flights for the CIA between 2003 and 2006, which also has led to criticism of shareholders of the company, including the governments of Norway and Britain.[36][37]
  • The company has engaged in a number of activities that have resulted in legal action against it. These are:
    1. Its so called WorldBridge Service (Visa Services), which processed and issued millions of visa applications to enter Britain, did not involve British authorities.Template:Cn
    2. CSC was one of the contractors hired by the Internal Revenue Service to modernize its tax-filing system. They told the IRS it would meet a January 2006 deadline, but failed to do so, leaving the IRS with no system capable of detecting fraud. Its failure to meet the delivery deadline for developing an automated refund fraud detection system cost the IRS between Template:US$ and Template:US$.Template:Cn

See also

References

  1. ↑ 1.0 1.1 CSC Announces Merger with Enterprise Services Segment of Hewlett Packard Enterprise to create a Global IT Services Leader(May 24, 2016). Retrieved November 4, 2016.
  2. ↑ 2.0 2.1 New York Stock Exchange | DXC Technology.
  3. ↑ Our History. Retrieved June 1, 2010.
  4. ↑ 4.0 4.1 CSC, History. fundinguniverse.com.
  5. ↑ History in the Computing Curriculum. Retrieved November 21, 2014.
  6. ↑ Template:Cite magazine
  7. ↑ iBS – Smart Applications for Banking on SAP. 2000|https://www.ibs-banking.com/en/company.html
  8. ↑ Computer Sciences Corporation, Form 10-Q, Quarterly Report, Filing Date Feb 6, 2008. secdatabase.com. Retrieved Mar 29, 2013.
  9. ↑ Computer Sciences Corporation, Form 8-K, Current Report, Filing Date Mar 31, 2008. secdatabase.com. Retrieved Mar 29, 2013.
  10. ↑ FORTUNE 500: Companies by year C. CNN. Retrieved March 28, 2011.
  11. ↑ Fortune 500 - Fortune. Retrieved 2 July 2015.
  12. ↑ Computer Sciences Corporation, Form 8-K, Current Report, Filing Date March 28, 2014. sec.gov. Retrieved Nov 2, 2020.
  13. ↑ Exclusive: Computer Sciences prepares to break itself up - sources. Reuters(14 May 2015). Retrieved 21 May 2015.
  14. ↑ CSC to Combine Government Services Unit with SRA Upon Separation from CSC; Combination will Create Leading Pure-Play Government I.T. Business in the U.S.. CSC. Retrieved October 2, 2015.
  15. ↑ CSC and HCL Form Joint Venture to Deliver Digital Software and Services to Global Banking Clients. Retrieved 23 July 2015.
  16. ↑ CeleritiFinTech.
  17. ↑ Computer Sciences (CSC) Completes Fixnetix Acquisition. NASDAQ.com. Retrieved 2016-02-25.
  18. ↑ CSC Finalizes Fruition Partners Acquisition. Computer Sciences Corporation. Retrieved 2016-02-25.
  19. ↑ CSC Confirms Agreement to Acquire Australia's UXC Limited. Computer Sciences Corporation. Retrieved 2016-02-25.
  20. ↑ Computer Sciences Corporation to buy Xchanging in £480m deal. www.cityam.com. Retrieved 2015-12-09.
  21. ↑ CSC moving headquarters to Tysons Corner. WTOP. Retrieved 2016-02-25.
  22. ↑ Software Company | url=http://www.niveosys.com | Magic Quadrant for End-User Outsourcing Services, North America, 26 August 2014 | publisher=Gartner, Inc.
  23. ↑ The Top Companies in the IT Services Industry (2009). Retrieved November 25, 2014.
  24. ↑ Top 10 IT Service Providing Companies. siliconindia.com. Retrieved November 25, 2014.
  25. ↑ 25.0 25.1 Supplier profile: CSC. Computer Weekly.
  26. ↑ CSC Wins $59 Million Task Order From FBI to Provide Call Center. Bloomberg.
  27. ↑ Computer weekly Supplier Profile : CSC. CSC’s outsourcing journey has brought it full circle.
  28. ↑ Computer Sciences Corporation, Form 8-K, Current Report, Filing Date Dec 13, 2002. secdatabase.com. Retrieved Mar 29, 2013.
  29. ↑ Computer Sciences Corporation Completes Acquisition of DynCorp. Retrieved August 19, 2012.
  30. ↑ CSC completes acquisition of Covansys. Retrieved August 19, 2012.
  31. ↑ CSC Named to Software Magazine's 30th Annual Software 500. Retrieved 2 July 2015.
  32. ↑ NHS To Spend £2.2bn On 'Rotten' CSC NPfIT Work. techweekeurope.
  33. ↑ 30 Major U.S. Corporations Paid More to Lobby Congress Than Income Taxes, 2008-2010, Portero, Ashley. Retrieved 26 December 2011.
  34. ↑ CSC Accounting Fraud Extends to Australia - BizCloud® Network(13 November 2011). Retrieved 2 July 2015.
  35. ↑ The SEC just clawed back $4 million from the former CEO of tech giant CSC and accused it of fraud, Bort, Julie. Business Insider. Retrieved 2020-12-10.
  36. ↑ Computer Sciences Corporation torture link challenges Norway's ethical reputation. Retrieved August 19, 2012.
  37. ↑ Lloyds owns stake in US firm accused over CIA torture flights. Retrieved 2 July 2015.

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