CSC has agreed to sell Paxus, its Australian IT staff unit, to South African employment services company Adcorp for US$73.5 million. According to CSC, all 96 staff at Paxus in Australia will be offered jobs following the sale, which is expected to be completed next month. Paxus’s revenue in fiscal 2012 was about US$340 million with low single-digit operating margins. CSC has been busy offloading divisions to “aligning the company’s resources with our strategy of leading the next generation of solutions and services,” according to president and CEO Mike Lawrie. Earlier this month, the company sold its credit services division to Equifax for $1 billion and its Italian system integration division to Dedagroup for an undisclosed sum. Lawrie said CSC didn’t anticipate any impact on its core services and clients in Australia following the sale to Adcorp and it expected to use that after-tax proceeds for “general corporate purposes”. “Paxus provides contracted and permanent IT staff and has preferred supplier status with some of Australia’s blue chip companies and government departments,” said Adcorp CEO Richard Pike. “CSC is currently Paxus’ largest client and will continue to procure IT resources from Paxus in terms of a five-year supply agreement between the two companies,” he said. CSC acquired Continuum and its Melbourne-based Paxus business unit in 1996. Follow CIO Australia on Twitter and Like us on Facebook… Twitter: @CIO_Australia, Facebook: CIO Australia, or take part in the CIO conversation on LinkedIn: CIO Australia Related content BrandPost How Infosys and Tennis Australia are harnessing technology for good By Veronica Lew Mar 26, 2023 6 mins Infosys BrandPost Retail innovation playbook: Fast, economical transformation on Microsoft Cloud For retailers, tight integration of data and systems is the antidote to a challenging economy. By Tata Consultancy Services Mar 24, 2023 3 mins Retail Industry Digital Transformation BrandPost How retailers are empowering business transformation with TCS and Microsoft Cloud AI-powered omnichannel integration and a strong, secure digital core lets retailers innovate across four primary areas while staying compliant, maintaining security and preventing fraud. By Tata Consultancy Services Mar 24, 2023 4 mins Retail Industry Cloud Computing BrandPost How to Build ROI from Cloud Migration This whitepaper and webcast can help you calculate the ROI and create a business case for modernizing your legacy applications to the Microsoft Cloud. By Tata Consultancy Services Mar 24, 2023 1 min Retail Industry Cloud Computing Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe