CSC (NYSE: CSC) announced that it would be merging with the Enterprise Services segment of Hewlett Packard Enterprise (NYSE: HPE), creating a massive global IT services company expected to have annual revenues of $26 billion.
The unit of HPE that is merging with CSC accounts for approximately 100,000 staff, or 50 percent of the company’s headcount. HPE’s remaining operations will center on hardware sales, including software, server systems, networking and storage.
The combined company will be the third-largest IT services business globally, with more than 5,000 customers across 70 countries and $3 billion in next-generation offerings.