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Information technology services industry

Computer Sciences Corporation Enters 10-Year Outsourcing Agreement with Republic National Bank

Strategic Insights

— 1 min read

Computer Sciences Corporation (CSC), a leading information technology company, has announced a 10-year outsourcing agreement with Republic National Bank of New York, a subsidiary of Republic New York Corporation. The agreement, set to be finalized in April, will see CSC acquire and manage the bank's data center, help-desk, network, and communications operations. The deal will result in the transfer of 127 Republic positions to CSC, with all affected employees offered jobs with CSC in New York City.

Key Takeaways:

  • The outsourcing agreement will last for 10 years, with CSC acquiring and managing Republic National Bank's data center, help-desk, network, and communications operations.
  • 127 Republic positions will be transferred to CSC, with all affected employees offered jobs with CSC in New York City.
  • The agreement recognizes CSC's global technology strength and the strong skills infusion from Republic employees joining CSC.
  • Republic New York Corporation is a bank holding company with assets of $50.4 billion and total stockholders' equity of $3.1 billion.
  • CSC will benefit from the agreement, which will expand its presence in the securities industry and banking practice.
  • The company has a global presence, with offices in more than 700 locations worldwide and a workforce of 50,000 employees.
  • CSC had revenue of $7.4 billion for the twelve months ended January 1, 1999.

Statistics:

  • 10-year duration of the outsourcing agreement
  • 127 Republic positions to be transferred to CSC
  • $50.4 billion in assets for Republic New York Corporation
  • $3.1 billion in total stockholders' equity for Republic New York Corporation
  • 50,000 employees worldwide for CSC
  • 700+ offices worldwide for CSC
  • $7.4 billion in revenue for CSC in the twelve months ended January 1, 1999

Sources:

  • Computer Sciences Corporation press release, March 1, 1999
  • Republic New York Corporation financial statement, year-end 1998
  • Republic National Bank of New York profile

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