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CALIFORNIA / News and Insight on Business in the
Golden State
| THE STATE / TECHNOLOGY

Computer Sciences Buys 51% of KPMG Unit

October 20, 1998| Bloomberg News

Computer Sciences Corp. said it bought 51% of closely held KPMG Peat Marwick SA of Paris for an undisclosed amount of cash to form the second-largest consulting company in France. El Segundo-based Computer Sciences said it also agreed to acquire the remainder of the Paris-based company, which has annual revenue of about $70 million, early next year. The acquisition makes CSC the second-largest management and information technology consulting company in France, which Chief Executive Van B. Honeycutt called an important market for the company. CSC had $6.9 billion in revenue for the 12 months ended July 3 and has 45,000 employees in 700 offices worldwide. Its shares rose $1.19 to close at $57.63 on the NYSE.

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