CSC signs $55 million outsourcing pact with Mobil Oil in Europe.EL SEGUNDO El Segundo (ĕl sēgŭn`dō), industrial city (1990 pop. 15,223), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1917. Its products include navigation and computer systems, aircraft parts, office machines, telephone apparatus, and , Calif.--(BUSINESS WIRE)--Nov. 4, 1996--Computer Sciences Corp. (NYSE NYSE See: New York Stock Exchange :CSC) announced that it has signed a three-year, $55 million information-technology outsourcing contract with Mobil Oil in Europe, to be implemented after Dec. 1, 1996. Under terms of the contract, CSC will purchase a Mobil data center in Maidstone, England, to supply I/T I/T Inner Tank services to Mobil's European businesses. Approximately 140 people within the existing Mobil operations will transfer over to CSC; more than 100 of those jobs are at the Maidstone site, with the remainder located at other European locations. The agreement calls for Mobil to receive an undisclosed cash payment for the Maidstone facility and equipment, and CSC will help the oil company reduce its operating costs operating costs npl → gastos mpl operacionales . ``CSC is a world-class information-technology service company,'' said Ellen McCoy, Mobil's global information services See Information Systems. manager. ``We chose CSC because they have the technical capability to provide the high-quality information-technology support essential to our business. Equally important, they're a company which will give Mobil employees enhanced career prospects in an organization fully focused on information technology.'' CSC had $5.2 billion in revenues for the 12 months ended Sept. 27, 1996, including 12 months of revenues from the recently acquired Continuum Co., which have been combined with CSC's revenues because the acquisition is accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. . CSC has headquarters in El Segundo and has nearly 40,000 employees in more than 600 offices worldwide providing clients with a wide range of professional services, including management consulting, business re-engineering, information-systems consulting and integration, and outsourcing. CONTACT: Computer Sciences Corp., El Segundo Bruce Plowman, Spencer Davis or Robert Pickard 310/615-0311 |
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