Global information technology and business process outsourcing vendor Computer Sciences Corp., Falls Church, Va., has announced its intent to acquire the assets of Australian-based health IT vendor iSOFT Group Limited.
CSC to acquire iSOFT Group
The terms of the court-supervised acquisition were reported at $0.17 per share in Australian dollars, according to a CSC news release. The deal is valued at about $188 million in U.S. currency, according to a Reuters report. One U.S. dollar equals about $0.96 Australian at exchange rates quoted this morning.
The CSC announcement said the deal is expected to close in the second quarter of its 2012 fiscal year. That quarter ends Sept. 30.
iSOFT has 3,300 employees and “major research and development centers” in Australia, Central Europe, India, New Zealand, Spain and the U.K., the statement said.
iSOFT gained its “first toe-hold” in the U.S. health IT market in 2009 with its acquisition of BridgeForward, Middleton, Mass., an application integration software provider for the healthcare industry.
CSC and iSoft were one-time partners in a troubled venture to provide technology systems and services to the U.K.'s Connecting for Health national health IT program.
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