CSC £480 million acquisition of Xchanging

Overview:

• Computer Sciences Corporation (CSC) has acquired Xchanging for £480 million.
• The deal saw CSC pay around £1.90 per share.
• Xchanging is a business process and technology services provider.
• Capita, Apollo Global Management and Ebix also made bids for the company, with Capita looking to be the winning bidder with a £412 million bid in early December 2015 before ultimately being trumped by CSC.
• Goldman Sachs acted as financial adviser to CSC. 
• Xchanging was advised by Lazard, Investec Bank and Liberum Capital.

Sam Duke - Editor