Thursday, October 27, 2005

Lockheed in Talks To Acquire Tech Firm CSC

Renae Merle and Ben White write in The Washington Post:

Lockheed Martin Corp. and three venture capital firms are negotiating to acquire Computer Sciences Corp., the giant California technology firm that has enjoyed a boost from increased government spending on information technology services, according to sources with knowledge of the talks.

CSC employs 11,000 people in the Washington area, and a merger with Bethesda-based Lockheed would continue the move by old-line weapon-makers into the information technology field.

Lockheed is interested in CSC's government contracts, which include information technology consulting and the development of vaccines through a joint venture in Frederick, sources with knowledge of the talks said. The discussions with Lockheed and the three private equity firms -- Warburg Pincus LLC, Blackstone Group and Texas Pacific Group -- just began, said the sources, who spoke on condition of anonymity because the discussions are at an early stage.


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