Falls Church, Va CSC (Falls Church, Va.) announced it has signed an agreement to acquire all of the outstanding equity of iSOFT Group Limited (Sydney, Australia), one of the world’s largest providers of advanced healthcare IT solutions, by way of a court-approved scheme of arrangement. The acquisition will complement and strengthen CSC’s market-leading software products and healthcare integration and services portfolio, while enhancing its healthcare research and development capabilities. It will also accelerate CSC’s strategic growth plan in the Life Sciences market and reinforce the company as a very strong player in healthcare information technology.
The offer to iSOFT shareholders is at $0.17 per share in cash. Closing of the transaction is expected during CSC’s Q2FY12, and is subject to various conditions, including, among others, iSOFT shareholder approval and certain Australian and EU regulatory approvals.
Adding iSOFT’s 3,300 global employees including those from major research and development centers in India, Spain, UK, Australia, New Zealand and Central Europe, will expand CSC’s capability to support existing customers, develop more innovative solutions, and add a robust set of clients in new and emerging markets.