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CSC bags DynCorp in £600m deal

Computer Sciences Corporation (CSC) is expanding its security business by buying DynCorp in a deal valued at around $950m...

Computer Sciences Corporation (CSC) is expanding its security business by buying DynCorp in a deal valued at around $950m (£600m).

DynCorp focuses on the large defence, security and civil markets, offering systems and network integration, defence logistics and maintenance services.

CSC will pay $15 in cash and $43 in CSC shares for each DynCorp share and assume $273m in DynCorp debt. The deal is backed by the boards of directors of both companies, but has still to be approved by DynCorp shareholders and is subject to customary conditions, CSC said.

More than 23,000 DynCorp employees will join CSC's Federal Sector unit, which has about 15,000 employees, CSC said.

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