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 Sponsored by Rocket Software Why data virtualization is critical for business success Data is your most valuable resource—but only if you can access it fast enough to address present challenges. Data virtualization is the key. By Milan Shetti, CEO of Rocket Software Nov 28, 2023 4 mins Digital Transformation brandpost Sponsored by Rocket Software The hybrid approach: Get the best of both mainframe and cloud Cloud computing and modernization often go hand in hand, but that doesn’t mean the mainframe should be left behind. A hybrid approach offers the most value, enabling businesses to get the best of both worlds. By Milan Shetti, CEO Rocket Software Nov 28, 2023 4 mins Digital Transformation brandpost Sponsored by Rimini Street Dear Oracle Cloud…I need my own space Access results from a recent Rimini Street survey about why enterprises are rethinking their Oracle relationship and cloud strategy. By Tanya O'Hara Nov 28, 2023 5 mins Cloud Computing brandpost Sponsored by Rimini Street How to evolve IT systems into innovation engines Today’s IT leaders are more than eager to modernize with best-fit cloud solutions that drive innovation and rapid business impact, but they need to do so with ROI-based solutions. By Tanya O'Hara Nov 28, 2023 4 mins IT Leadership 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