Since 1959, CSC has spent the last 45 years helping businesses around the globe manage their IT systems. Today, the company is ranked amongst one of the world's leading IT services companies, and has 78,000 employees located in offices in 48 major cities.
Headquartered in El Segundo, Calif., CSC reported revenue of US$14.3 billion for the last four quarters, ended Jul. 1, 2005. The services giant provides systems design and integration, IT and business process outsourcing, applications software development, Web and application hosting, and management consulting.
Over the past 24 months, CSC has clinched major outsourcing contracts with some of the biggest names in the government and commercial sectors around the world. For example, it signed a five-year deal worth US$360 million to run and maintain Sun Microsystems' worldwide IT infrastructure.
In Asia, CSC secured a US$17.6 million software and IT services deal with China Pacific Property Insurance Company, the second-largest property and general insurer in China. Under the five-year contract, CSC will replace the insurance firm's existing business software package with its own insurance administration system, called Futurefirst.
However, CSC made the headlines on May 11, 2005, when U.S. retail giant Sears, Roebuck and Co. announced its decision to end a US$1.6 billion contract with the service provider. Sears' decision rekindled the debate over the future of megadeals. However, this did not slow down its business. CSC's revenue for the first quarter of fiscal 2006 ended Jul. 1, 2005, was US$3.58 billion, an increase of 8.6 percent from the same quarter in the previous year.
Industry analysts warn that major threats lie ahead of the "Big Six" service providers including CSC, as the Indian players slowly gain ground in several major outsourcing contracts. But despite the growing competition, CSC remains unfazed because after all, they have been doing this for 45 years, and there is no substitute for experience.