Computer Sciences Corporation
|Traded as||NYSE: CSC
S&P 500 Component
|Industry||IT services, IT consulting|
Fletcher R. Jones
|Headquarters||Tysons Corner, Virginia, United States|
|John Michael Lawrie, (President and CEO)|
|Services||IT, business consulting and outsourcing services|
|Revenue||US$8.1 billion (2015)|
|US$ -128 million (2015)|
|US$ -8 million (2015)|
|Total assets||US$10.20 billion (2015)|
|Total equity||US$2.92 billion (2015)|
Number of employees
|Subsidiaries||CSC India, Computer Sciences Raytheon, Xchanging|
Computer Sciences Corporation (CSC) is an American multinational corporation that provides information technology (IT) services and professional services. Its headquarters are located in Falls Church, Virginia. CSC has 56,000 employees in over 60 countries. Its clients include commercial enterprises and the U.S. federal government, as well as state, local and non-U.S. government agencies.
In September 2009, when Xerox acquired Affiliated Computer Services, CSC became the only remaining major "hardware vendor independent" IT service provider with headquarters and major operations in the U.S.
By 1963, CSC became the largest software company in the United States and the first software company to be listed on the American Stock Exchange. By the end of 1968, CSC was listed on the New York Stock Exchange and had operations in Canada, India, the United Kingdom, Germany, Spain, Italy, Brazil, and the Netherlands.
In the 1970s and 1980s, CSC expanded globally winning large contracts for the finance and defense industries and through acquisitions in Europe and Australia.
Since its beginnings in 1959, company headquarters had been in California. On March 29, 2008, the corporate headquarters of the company were relocated from El Segundo, California, to Annandale, Virginia. CSC has been a Fortune 500 Company since 1995, coming in at 162 in the 2012 rankings.
In May 2015, CSC announced plans to split the public sector business from its commercial and international business. In August, it was announced that CSC's Government Service business would merge with SRA International to form a new company -- CSRA—at the end of November 2015.
In September 2015, CSC closed the acquisition of Fixnetix, a provider of front-office managed trading solutions in capital markets. CSC also acquired Fruition Partners, a provider of technology-enabled solutions for the service-management sector during the month.
CSC employs about 56,000 employees (as of February 2016) in 60 countries and ranks among the leading IT service providers in the world. Geographically, CSC has major operations throughout North America, Europe, Asia, and Australia.
The company operates in three broad service lines or sectors:
- North American Public Sector (NPS): Since 1961, CSC has been one of the major IT service providers for the U.S. federal government. CSC provides services to the United States Department of Defense, law enforcement and intelligence agencies (FBI, CIA, Homeland Security), aeronatics and aerospace agencies (NASA). In 2012, U.S. federal contracts accounted for 36% of CSC total revenue.
- Managed Services
- Business Solutions and Services
- In September 2012, CSC was ranked 8th in Software Magazine’s Software 500 ranking of the world’s largest software and service providers.
- In June 2013, Margaret Hodge, chair of the Public Accounts Committee, a Select Committee of the British House of Commons, described CSC as a "rotten company providing a hopeless system" with reference to their multibillion-pound contract to deliver the National Programme for IT Lorenzo contract.
- In December 2011, the non-partisan organization Public Campaign criticized CSC for spending $4.39 million on lobbying and not paying any taxes during 2008–10, instead getting $305 million in tax rebates, despite making a profit of $1.67 billion.
- In February 2011, the U.S. Securities and Exchange Commission (SEC) launched a fraud investigation into CSC’s accounting practices in Denmark and Australian business. CSC's CFO Mike Mancuso confirmed that accounting errors and intentional misconduct by certain personnel in Australia prompted SEC regulators to turn their gaze to Australia. Mancuso also stated that the alleged misconduct includes $19 million in both intentional accounting irregularities and unintentional accounting errors.
- The company has been accused of breaching human rights by arranging several illegal rendition flights for the CIA between 2003 and 2006, which also has led to criticism of shareholders of the company, including the governments of Norway and Britain.
- The company has engaged in a high number of activities that have resulted in legal action against it. These are:
- Millions of visas allowing foreigners to enter Britain are being issued by CSC rather than by British diplomats.
- CSC was one of the contractors hired by the Internal Revenue Service to modernize its tax-filing system. They told the IRS it would meet a January 2006 deadline, but failed to do so, leaving the IRS with no system capable of detecting fraud. Its failure to meet the delivery deadline for developing an automated refund fraud detection system cost the IRS between $200 million and $300 million.
- VP/MS (Visual Product Modeling System), a modeling language and product lifecycle management tool by CSC
- Team CSC professional cycling team, 2001–08
- Top 100 US Federal Contractors
- CSRA Inc., formed by a merger of CSC's North American Public Sector and SRA International
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- "CeleritiFinTech". HCLTECH.
- "Computer Sciences (CSC) Completes Fixnetix Acquisition". NASDAQ.com. Retrieved 2016-02-25.
- "CSC Finalizes Fruition Partners Acquisition". Computer Sciences Corporation. Retrieved 2016-02-25.
- "CSC Confirms Agreement to Acquire Australia's UXC Limited". Computer Sciences Corporation. Retrieved 2016-02-25.
- "Computer Sciences Corporation to buy Xchanging in £480m deal". www.cityam.com. Retrieved 2015-12-09.
- "CSC moving headquarters to Tysons Corner". WTOP. Retrieved 2016-02-25.
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- "Computer Sciences Corporation, Form 8-K, Current Report, Filing Date Dec 13, 2002". secdatabase.com. Retrieved Mar 29, 2013.
- Computer Sciences Corporation Completes Acquisition of DynCorp
- CSC completes acquisition of Covansys
- "CSC Named to Software Magazine’s 30th Annual Software 500". Computer Sciences Corporation. Retrieved 2 July 2015.
- Brewster, Tom, NHS To Spend £2.2bn On ‘Rotten’ CSC NPfIT Work, techweekeurope
- Portero, Ashley. "30 Major U.S. Corporations Paid More to Lobby Congress Than Income Taxes, 2008-2010". International Business Times. Archived from the original on 26 December 2011. Retrieved 26 December 2011.
- Nebojsa Despotovic (13 November 2011). "CSC Accounting Fraud Extends to Australia - BizCloud® Network". BizCloud® Network. Retrieved 2 July 2015.
- Computer Sciences Corporation torture link challenges Norway's ethical reputation
- Rupert Neate. "Lloyds owns stake in US firm accused over CIA torture flights". the Guardian. Retrieved 2 July 2015.
- "Revealed: US firm issues British visas... and MPs were not told". Mail Online. Retrieved 2 July 2015.
- "Obamacare Contractors Plagued by Previous Failures, Fines, Fraud". Newsmax. Retrieved 2 July 2015.