CSC closing in on DynCorp buy
- By Michael Hardy
- Feb 18, 2003
DynCorp shareholders will vote March 7 on whether to allow Computer Sciences Corp. (CSC) to acquire the firm.
That's the final hurdle that El Segundo, Calif.-based CSC must jump to close the deal.
CSC first announced its intent to acquire DynCorp for about $950 million in December 2002. The company estimates that after the merger, it will earn about $6 billion annually from federal government business, almost half of its expected $14.5 billion in total earnings.
Both companies are major players in the federal market. CSC is a systems integrator that also provides consulting and outsourcing services, while DynCorp, based in Reston, Va., offers information technology services and technical services.