UPDATE: IT Services Giant CSC to Acquire Australian Giant UXC; SBS Group Acquires Infinity Info Systems
Since publication of this story, CSC announced on November 24 that a binding Scheme of Implementation agreement between CSC and UXC has brought to a close the due diligence that began with CSC's initial offer for UXC. Based on 345 million shares of UXC outstanding, the total value of the transaction would be approximately US $307.9 million (A$427.6 million) upon completion. The transaction is subject to approval by UXC shareholders, followed by the customary regulatory and court approvals for transactions of this type in Australia. The transaction timeline is expected to conclude by February 2016.
There were two significant channel announcements today, one in the Asia Pacific region, the other in North America.