Competition Commission Of India Sanctions CSC-HPE Merger Deal
Competition Commission sanctioned the proposed merger deal of Computer Sciences Corporation (CSC) with enterprise services segment of Hewlett Packard Enterprise (HPE). The partnership deal will emerge as a pure play IT services companies.
Read Also:CCI Clears Geometric Deal With HCL
According to the deal, announced in May, CSC would merge with Everett Spinco - a wholly-owned subsidiary of Hewlett Packard Enterprise (HPE) that holds the enterprise service business.
In a tweet, Competition Commission of India (CCI) said it has approved the “demerger of Enterprise Service Business of HPE into Everett Spinco; the latter to become subsidiary of CSC”.
Post the transaction, CSC and Hewlett Packard Enterprise shareholders would have around 50 per cent stake each in the new entity. “Strategic combination of the two complementary businesses will create one of the world’s largest pure-play IT services companies, uniquely positioned to lead clients on their digital transformations,” CSC said according to NDTV report.
- Ten Trends Redefining Enterprise IT In 2018
- Digitally Transform For The New Breed Of Customer
- How CEO Can Avoid Digital Transformation Failure: McKinsey
- How CIOs Can Ensure A Seat At The Strategy Table
- CIO's Five-Point RPA Planning Success Formula
- SpiderOak CEO Warns Of 10 Cybersecurity Threats For 2018
- Infor Looks To Triple Its India Revenue By 2020
- What Millennials Want From Their Employers?
- Ness Appoints Vinay Rajadhyaksha To Drive Digital Business
- 70% Consumers Stop Following A Business After Data Breach: Study