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The Cutting Edge | TECHNOLOGY BRIEFS

CSC to Buy Broken Hill Unit

May 25, 2000|Bloomberg News

Computer Sciences Corp. agreed to buy Broken Hill Proprietary Co.'s information technology unit to expand its consulting business in Australia. The transaction includes a cash payment of about $43 million and an agreement that CSC will provide consulting, outsourcing and other services to Broken Hill, based in Melbourne, Australia. The seven-year contract is valued at $470 million. Purchase of the Broken Hill unit, with revenue of about $153 million, would result in the transfer of 1,700 employees and contractors to El Segundo-based CSC. The sale is to be completed June 1. Broken Hill produces steel, copper, iron ore, coal and petroleum. CSC's shares rose $6.44 to close at $95 on the New York Stock Exchange.

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