In the 1960s, CSC provided software programming services to major computer manufacturers like IBM and Honeywell and secured their first contracts for the U.S. public sector with NASA (among others).[5]
In 1967, CSC set up Computicket Corp. to compete in the fledgling electronic ticket market competing with Ticketron but lost $13 million and discontinued the service in 1970.[7]
In the 1970s and 1980s, CSC expanded globally winning large contracts for the finance and defense industries and through acquisitions in Europe and Australia.
In 2000, CSC founded a joint-venture called Innovative Banking Solutions AG[8]inWiesbaden, Germany, to market their newly developed SAP solution for mortgage companies.
Since its beginnings in 1959, company headquarters had been in California. On March 29, 2008, the corporate headquarters of the company were relocated from El Segundo, California, to Falls Church, Virginia.[9][10]
CSC had been a Fortune 500 Company since 1995,[11] coming in at 162 in the 2012 rankings.[12]
In fiscal 2013, CSC acquired ServiceMesh (cloud management) for $282M, Infochimps (a big data platform) for $27M, 42Six (analytics for national intelligence) for $35 million, iSOFT (application solutions) for cash and debt, and AppLabs (application testing) for $171M.[13]
In May 2015, CSC announced plans to split the public sector business from its commercial and international business.[14] In August, it was announced that CSC's Government Service business would merge with SRA International to form a new company — CSRA—at the end of November 2015.[15]
In July 2015, CSC and HCL Technologies announced the signing of a joint venture agreement to form a banking software and services company, Celeriti FinTech.[16][17]
In September 2015, CSC closed the acquisition of Fixnetix, a provider of front-office managed trading solutions in capital markets.[18] CSC also acquired Fruition Partners, a provider of technology-enabled solutions for the service-management sector during the month.[19]
In November 2015, CSC agreed to acquire the shares of UXC, an IT services company based in Australia in a deal valued at A$427.6 million (US$309 million).[20]
In December 2015, business technology and services provider, Xchanging, agreed to be purchased by CSC.[21]
CSC once ranked among the leading IT service providers in the world.[23][24] Geographically, CSC had major operations throughout North America, Europe, Asia, and Australia.
The company operated in three broad service lines or sectors until the 2015 divestment of NPS, its public sector:
North American Public Sector (NPS): Since 1961, CSC had been one of the major IT service providers for the U.S. federal government. CSC provided services to the United States Department of Defense,[25] law enforcement and intelligence agencies (FBI,[26]CIA, Homeland Security[25]), aeronautics and aerospace agencies (NASA). In 2012, U.S. federal contracts accounted for 36% of CSC total revenue.[27]
In December 2011, the non-partisan organization Public Campaign criticized CSC for spending US$4.39 milliononlobbying and not paying any taxes during 2008–10, instead getting US$305 million in tax rebates, despite making a profit of US$1.67 billion.[33]
In February 2011, the U.S. Securities and Exchange Commission (SEC) launched a fraud investigation into CSC's accounting practices in Denmark and Australian business. CSC's CFO Mike Mancuso confirmed that accounting errors and intentional misconduct by certain personnel in Australia prompted SEC regulators to turn their gaze to Australia. Mancuso also stated that the alleged misconduct includes US$19 million in both intentional accounting irregularities and unintentional accounting errors.[34] The SEC accused the former CEO Mike Laphen of fraud and clawed back $4,35 million[35]
The company was accused of breaching human rights by arranging several illegal rendition flights for the CIA between 2003 and 2006, which also led to criticism of shareholders of the company, including the governments of Norway and Britain.[36][37]
The company engaged in a number of activities that resulted in legal actions against it. These are:
Its so-called WorldBridge Service (Visa Services), which processed and issued millions of visa applications to enter Britain, did not involve British authorities.[citation needed]
In 1998, CSC was the prime contractor hired by the Internal Revenue Service to modernize its tax-filing system. They told the IRS it would meet a January 2006 deadline, but failed to do so, leaving the IRS with no system capable of detecting fraud. Its failure to meet the delivery deadline for developing an automated refund fraud detection system cost the IRS between US$200 million and US$300 million.[citation needed]
^Software Company | url=http://www.niveosys.com | Magic Quadrant for End-User Outsourcing Services, North America, 26 August 2014 | publisher=Gartner, Inc.
