Computer Sciences Corporation

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CSC's former headquarters in El Segundo, California (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.<ref name=one>Template:Cite web</ref><ref name=two>Template:Cite web</ref>

History

CSC was founded in April 1959 in Los Angeles, California, by Roy Nutt and Fletcher Jones.<ref>Template:Cite web</ref> CSC initially provided programming tools such as assembler and compiler software.<ref name=":0">Template:Cite web</ref>

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).<ref name=":0" />

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.<ref name="Computing Curriculum">Template:Cite web</ref> 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.<ref>Template:Cite magazine</ref>

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<ref>iBS – Smart Applications for Banking on SAP. 2000|https://www.ibs-banking.com/en/company.html</ref> 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.<ref name="Computer-Sciences-Corporation-Feb-2008-10-Q">Template:Cite web</ref><ref name="Computer-Sciences-Corporation-Mar-2008-8-K">Template:Cite web</ref> CSC had been a Fortune 500 Company since 1995,<ref>Template:Cite news</ref> coming in at 162 in the 2012 rankings.<ref>Template:Cite web</ref>

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.<ref name="Computer-Sciences-Corporation-Mar-2014-8-K">Template:Cite web</ref>

In May 2015, CSC announced plans to split the public sector business from its commercial and international business.<ref>Template:Cite news</ref> 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.<ref>Template:Cite news</ref>

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.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>

In September 2015, CSC closed the acquisition of Fixnetix, a provider of front-office managed trading solutions in capital markets.<ref>Template:Cite web</ref> CSC also acquired Fruition Partners, a provider of technology-enabled solutions for the service-management sector during the month.<ref>Template:Cite web</ref>

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$).<ref> Template:Cite web </ref>

In December 2015, business technology and services provider, Xchanging, agreed to be purchased by CSC.<ref>Template:Cite web</ref>

In February 2016, CSC announced it was moving its headquarters to Tysons in Fairfax County, Virginia.<ref>Template:Cite web</ref>

On April 3, 2017, it merged with HPE Enterprise Services to create DXC Technology.<ref name=one/><ref name=two/>

Business

CSC once ranked among the leading IT service providers in the world.<ref>Software Company | url=http://www.niveosys.com | Magic Quadrant for End-User Outsourcing Services, North America, 26 August 2014 | publisher=Gartner, Inc.</ref><ref name="top IT service provider by revenue 2009">Template:Cite web</ref> 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<ref name="Computer-Sciences-Corporation-Dec-2002-8-K">Template:Cite web</ref><ref>Template:Cite web</ref> and Covansys Corporation in 2007.<ref>Template:Cite web</ref>

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.<ref>Template:Cite web</ref>

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.<ref>Template:Citation</ref>
  • 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$.<ref>Template:Cite web</ref>
  • In February 2011, the U.S. Securities and Exchange Commission (SEC) launched a fraud investigation into CSC's accounting practices in Denmark and Australian business. CSC's CFO Mike Mancuso confirmed that accounting errors and intentional misconduct by certain personnel in Australia prompted SEC regulators to turn their gaze to Australia. Mancuso also stated that the alleged misconduct includes Template:US$ in both intentional accounting irregularities and unintentional accounting errors.<ref>Template:Cite web</ref> The SEC accused the former CEO Mike Laphen of fraud and clawed back $4,35 million<ref>Template:Cite web</ref>
  • The company was accused of breaching human rights by arranging several illegal rendition flights for the CIA between 2003 and 2006, which also led to criticism of shareholders of the company, including the governments of Norway and Britain.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>
  • The company engaged in a number of activities that resulted in legal actions against it. These are:
    1. Its so-called WorldBridge Service (Visa Services), which processed and issued millions of visa applications to enter Britain, did not involve British authorities.Template:Citation needed
    2. In 1998, CSC was the prime contractor hired by the Internal Revenue Service to modernize its tax-filing system. They told the IRS it would meet a January 2006 deadline, but failed to do so, leaving the IRS with no system capable of detecting fraud. Its failure to meet the delivery deadline for developing an automated refund fraud detection system cost the IRS between Template:US$ and Template:US$.Template:Citation needed

See also

References

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