CSC enhances apps testing services with AppLabs acquisition
NYSE-listed IT services company, Computer Sciences Corporation (CSC) acquired AppLabs Technologies Private Limited.
The financial terms of the deal were not reported.
AppLabs brings a strong portfolio of emerging technologies, proprietary methodologies and tools, and a specialized sales force to CSC which significantly enhances CSC’s capabilities in application testing services as well as shortening time-to-market. AppLabs complements CSC’s expertise in Financial Services, Healthcare, Manufacturing, Chemical, Energy and Natural Resources and Technology and Consumer verticals. Financial terms of the deal were not disclosed.
“Acquiring AppLabs represents CSC’s continued commitment to our intense focus on growing the company’s applications development and management business as well as extending superior testing services to our clients and prospects,” said Michael W. Laphen, Chairman, President and CEO, CSC.
He added that application services will continue to play an increasingly important role as companies adopt new technologies and cloud based services to improve quality and performance and reduce the total cost of ownership of IT services.
According to research firm IDC, the independent testing and validation services market is growing faster than the IT services market and is forecasted for strong growth of 21 percent compound annual growth rate (CAGR) through 2013.
“As a pioneer in specialized testing services, AppLabs will strengthen CSC’s portfolio of services that are offered to its customers,” said Sashi Reddi, AppLabs Founder and CEO.
UBS Investment Bank acted as exclusive advisor to AppLabs on this transaction.
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