IT services firm Computer Sciences Corp said yesterday that it has expanded it European presence by agreeing to acquire a majority stake in Servo Data, an Austrian consulting company based in Vienna. Neither the exact size of the stake nor financial terms were disclosed. The deal is expected to instantly give El Segundo, California-based CSC a leading position in the Austrian services market.
Servo Data, founded in 1979, has roughly 300 employees in Austria, Germany and the US and books annual sales of about 415m schillings ($32m). Over the next 12 months, the company will be integrated with the existing Austrian operations of CSC Ploenzke, CSC’s German-based business unit, giving the combined entity 400 staff and $45m in annual revenues. It customer base will include major financial services firms, service providers and corporations, such as Bank Austria, Mobilkom Austria and Sony Corp.
CSC says its offerings in Austria will include consulting, ERP software implementations, the development of internet-based applications, large-scale IT projects and outsourcing activities. The joint operations will be overseen by Manfred Prinz, who currently heads CSC Ploenzke in Austria.
