French multinational CapGemini and private equity firm Carlyle Group have reportedly made a bid to buy technology consultant group Computer Sciences Corp (CSC).

Reuters cited sources familiar with the matter as saying that the talks for the buyout started in 2014, but did not materialise. The source, however, did not confirm if the negotiations will begin again.

CapGemini issued the following statement: "Following published news regarding Capgemini and CSC, Capgemini states that there are no ongoing discussions regarding a transaction."

CSC is considering a split of its business into two and selling them to a private equity firm and a foreign player. While the company’s US public sector business would be sold to private investors, the commercial arm would be offered to a foreign buyer, reported the Dealreporter.

The reports coincide with the announcement of hedge fund Jana Partners regarding an acquisition of a 5.9% stake in CSC.

Jana is likely to consider the purchase of a further stake in the $10bn company.

CSC provides IT and professional services to governments and commercial enterprises. The company is reportedly working with Royal Bank of Canada to review the buyout options.

According to reports, a foreign company like CapGemini will need a US-based partner like Carlyle to buy the public sector business of CSC as its clients list includes the US Department of Defence.

CSC has been eyed by buyers since 2005, when Lockheed Martin was said to have shown interest in it.

CSC’s revenue has been on the declining due to a fall in its sales.

The company is also in the midst of a cost-cutting campaign due to the budget pressure from the US Government.