By Lisa Kerner
Charlotte, N.C., Oct. 31 - Computer Sciences Corp. agreed to acquire First Consulting Group, Inc. in an all-cash transaction valued at about $365 million, or $13 per share.
Both companies' boards of directors approved the agreement, which is expected to close in the first quarter of 2008.
"This acquisition furthers CSC's project accelerate strategy by enhancing our expertise and intellectual property associated with the key health care vertical market and expanding our global delivery capabilities," Computer Sciences chairman and chief executive officer Michael W. Laphen said in a company news release.
"With this action, we significantly strengthen our health care capabilities and offerings, as well as expand our health care presence in the United States, Europe and Asia."
First Consulting is a Long Beach, Calif., information technology services provider.
Computer Sciences is also an information technology services company located in El Segundo, Calif.
| Acquirer: | Computer Sciences Corp.
|
| Target: | First Consulting Group, Inc.
|
| Announced: | Oct. 31
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| Transaction total: | $365 million
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| Price per share: | $13.00
|
| Expected closing: | First quarter of 2008
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| Stock price of target: | NYSE: CNE: $15.53 on Oct. 30
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