CSC Finalizes Fruition Partners Acquisition
CSC (NYSE: CSC), a global leader in next-generation IT services and solutions, today announced it has closed the acquisition of Fruition Partners, the leading provider of technology-enabled solutions for the service-management sector and the largest ServiceNow-exclusive service-management consulting firm. The acquisition bolsters CSC’s ability to offer enterprise and emerging clients an expanded range of cloud-based service-management solutions to improve their business results through organizational efficiency and lower operating costs.
Fruition Partners is now a wholly owned subsidiary of CSC and will do business as Fruition Partners, a CSC company. Financial terms of the transaction were not disclosed. ServiceNow is a CSC strategic alliance partner.
Combining Fruition Partners with the scale, reach, industry penetration and extensive skill portfolio of CSC creates an extraordinary leadership position in the fast-growing enterprise software-as-a-service (SaaS) market. It also addresses growing client demand for better, faster and more efficient service-management capabilities across process, applications and infrastructure – both traditional and cloud-enabled.
“We welcome the Fruition Partners team to CSC,” said Jim Smith, executive vice president and general manager, Global Business Services, CSC. “Together, we now can provide enterprise clients with end-to-end support for ServiceNow-related software and solutions, as well as a broader range of professional service-management offerings. CSC is now at the forefront of helping modern enterprise optimize technology to manage work, giving our clients access to an expanded range of XaaS capabilities.”
Marc Talluto, co-founder and chief executive officer, Fruition Partners, said “the combined business marries CSC’s global strength with Fruition Partners’ service-management expertise to bring existing and new clients even greater results as they continue to be challenged in the constantly evolving digital world. We look forward to cross-pollinating service offerings and best practices, including pre-packaged accelerators and integrations, an exclusive shared ServiceNow knowledge base, and the world’s only fully managed ServiceNow application service offering. Fruition Partners is excited to be part of the CSC family.”
Talluto will lead CSC’s global ServiceNow organization, reporting to Ravi Puri, vice president and general manager, Digital Applications organization. Fruition Partners employees will begin transitioning to CSC immediately for completion by year-end.
With headquarters in Chicago, Fruition Partners has operations in the United States, Canada, the United Kingdom and South America. For more information on Fruition Partners, a CSC company, go to: www.fruitionpartners.com.
“Adding Fruition Partners to CSC is a sound strategic decision and underscores CSC’s commitment to drive service management across the enterprise, said David Schneider, chief revenue officer, ServiceNow. “We believe this combined business will accelerate the cloud-based service transformation opportunities for CSC’s clients.”
Computer Sciences Corporation (CSC) is a global leader of next generation information technology (IT) services and solutions. The Company's mission is to enable superior returns on our clients’ technology investments through best-in-class industry solutions, domain expertise and global scale. CSC has approximately 70,000 employees and reported revenue of $11.7 billion for the 12 months ended July 3, 2015. For more information, visit the company's website at www.csc.com.
All statements in this press release and in all future press releases that do not directly and exclusively relate to historical facts constitute “forward-looking statements.” These statements represent the Company’s intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside the Company’s control. These factors could cause actual results to differ materially from such forward-looking statements. For a written description of these factors, see the section titled “Risk Factors” in CSC’s Form 10-K for the fiscal year ended April 3, 2015 and any updating information in subsequent SEC filings. The Company disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent event or otherwise, except as required by law.
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