Global IT outsourcer CSC has sold its Australian staffing unit as part of a global transformation aimed at shifting the company’s focus towards solutions and services.
CSC’s local Paxus division will start its new life under the ownership of South African employment services company Adcorp. CSC sold the division for $US73.5 million ($A69.6 million) - its third global divestment in seven weeks.
It recently offloaded its US credit services unit for $US1 billion to US-based Equifax, and sold its Italian consulting and systems integration services to Italian IT services company Dedagroup, for an undisclosed sum.
The outsourcer is attempting to reshape its portfolio of businesses to focus on solutions and services.
"[CSC is] moving out of some markets and moving into higher-margin next-generation technology solutions and services--we call it moving up the value chain," a CSC spokesperson told CRN.
"The company has embarked on a focus on its core strengths in technology solutions and services. Paxus, an IT staffing unit, does not fit that core focus."
CSC will become a Paxus client under its new ownership, to meet CSC’s staffing needs locally. CSC did not provide details of the partnership by the time of publication.
It said Adcorp would offer employment to all current 96 Paxus staff.
The transaction is expected to close by the end of January. In Australia, CSC also offers application, cloud, business intelligence and analytics, security, consulting, data centre, end-user, enterprise, mobility, outsourcing, systems integration and UC services and solutions.
Paxus reported revenue of $US340 million in fiscal 2012. CSC declined to comment further on Paxus’ recent financial results, which have not been publicly released.
CSC has 95,000 employees worldwide. It reported revenue of $US15.88 billion for fiscal 2012, down from $US16.04 billion in fiscal 2011.