Computer Sciences Corporation is acquiring Xchanging, a business processing company.
The deal is being valued at £480 million and will see CSC boost its presence in the commercial insurance market where Xchanging typically operates.
Mike Lawrie, CEO and president, CSC, said: "Xchanging’s capabilities and experience in the commercial insurance market would complement CSC’s global insurance presence in software, outsourcing and services."
CSC is a provider of consulting and outsourcing solutions for software in the insurance industry.
According to the companies, London based Xchanging will offer CSC a modernised suite of insurance platforms in addition to greater access to the UK market.
The acquisition is expected to close in the next six months.
