Computer Sciences Corp said Thursday that it has acquired or agreed to acquire enough shares to give it a 51% stake in CSA Holdings Ltd, one of the largest IT services companies in Asia. Prior to the announcement, CSC already owned about 32% of CSA’s 128 million outstanding shares. CSC made a public offer last month to acquire a controlling interest in the company in order to significantly expand it presence in the Asian market. Its offer of $0.62 per share was contingent upon it receiving enough shares to give it 51%, so CSC handed over at least $14m to take control of the company. Singapore-based CSA boasts roughly $270m in annual revenue and has 2,000 employees. Besides Singapore, CSA does the majority of its business in Hong Kong, Indonesia, Malaysia, China, the Philippines and Taiwan. It was formed in 1970 and provides systems consulting and integration services, in addition to the distribution of hardware, software and networking products. CSC says that, following the completion of the deal, it intends to continue to expand in Asia through a combination of more acquisitions, joint ventures and new outsourcing contracts.
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