CSC Signs $235 Million IT Infrastructure Outsourcing Contract Renewal With Schroders
EL SEGUNDO, Calif., March 2 /PRNewswire-FirstCall/ -- Computer Sciences Corporation (NYSE: CSC) today announced that Schroders, a global asset management company, has renewed its existing information technology (IT) outsourcing contract with CSC for an additional seven years and 10 months. The renewal is valued at approximately $235 million. The new agreement supersedes a previous seven-year IT outsourcing contract awarded to CSC in June 2001, under which the company provided various infrastructure and applications services. Under the terms of the new contract, CSC will provide Schroders with infrastructure services for midrange, desktops and networks, and support for key applications. "The partnership between Schroders and CSC is an integral part of the provision of IT services within Schroders," said Matthew Oakeley, head of Group IT at Schroders. "This agreement provides an excellent platform for increasing leverage of CSC's core skills and enhancing the IT support model for Schroders' business." "The signing of this renewal represents an important milestone in the evolution of our relationship with Schroders," said Guy Hains, president of CSC's European Group. "It demonstrates CSC's ability to meet client needs and adapt to changing IT and business requirements. Our five years of experience working with Schroders positions us well to continue delivering operational results that directly support Schroders' business goals." About Schroders Schroders is a global asset management company with 122.5 pounds sterling ($211.0 / 178.2 euros) billion under management as at 31 December 2005. Its clients are major financial institutions including banks and insurance companies, local and public authorities, charities, pension funds, high net worth individuals and retail investors. Schroders' aim is to apply its specialist asset management skills in serving the needs of its clients worldwide and in delivering value to its shareholders. With one of the largest networks of offices of any dedicated asset management company and over 250 portfolio managers and analysts covering the world's investment markets, Schroders offers its clients a comprehensive range of products and services. About CSC Founded in 1959, Computer Sciences Corporation is a leading global IT services company. CSC's mission is to provide customers in industry and government with solutions crafted to meet their specific challenges and enable them to profit from the advanced use of technology. With approximately 80,000 employees, CSC provides innovative solutions for customers around the world by applying leading technologies and CSC's own advanced capabilities. These include systems design and integration; IT and business process outsourcing; applications software development; Web and application hosting; and management consulting. Headquartered in El Segundo, Calif., CSC reported revenue of $14.6 billion for the 12 months ended Dec. 30, 2005. For more information, visit the company's Web site at www.csc.com.
SOURCE Computer Sciences Corporation
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