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.

IT services giant CSC has announced that it has entered into exclusive negotiations to acquire the shares of UXC Limited (subject to due diligence, board approvals, and other requirements).

With the acquisition, CSC takes on a strong client base in the North America, but also in ASEAN via UXC's presence in Vietnam, India, Malaysia, Singapore, Fiji, Australia, and New Zealand

CSC is already a major global company; billing itself as "a global leader of next generation information technology (IT) services and solutions." It has about 70,000 employees in 70 countries, and reported revenue of $11.7 billion for the 12 months ended July 3, 2015. UXC calls itself "Australia's largest locally owned and managed IT services company," with nearly 3,000 and annual revenues of close to US $499 million (A$700) million and around 2,500 customers. UXC is just 13 years old, and only announced its North American expansion in 2013, so the bulk of that portfolio is in ASEAN.

On top of that, UXC is a powerful Microsoft Dynamics partner. Its division UXC Eclipse was ...