FALLS CHURCH, Va. & CHICAGO--(BUSINESS WIRE)--CSC (NYSE: CSC), a global leader in next-generation IT services and solutions, today announced it has signed an agreement to acquire Fruition Partners, the leading provider of technology-enabled solutions for the service-management sector and the largest ServiceNow-exclusive service management consulting firm. The proposed acquisition will enable CSC to offer enterprise and emerging clients an expanded range of cloud-based service-management solutions to improve their business results through organizational efficiency and lower operating costs. ServiceNow is a CSC strategic alliance partner.
As global enterprises transition to the cloud, they are looking for better, faster and more efficient service-management capabilities across process, applications and infrastructure – both traditional and cloud-enabled. ServiceNow’s leading platform as a service is being adopted rapidly for that purpose and its growth represents a broader shift in the way that organizations use technology to manage work and business outcomes. Based on ServiceNow reporting, Morgan Stanley forecasts steady growth for ServiceNow with well over a billion dollars in revenue for FY16. For the years 2013 through 2016, IDC estimates an $11.6 billion market opportunity for professional and managed services around cloud-based platforms, a growing share of which will require deep knowledge of the ServiceNow platform.
Fruition Partners, which is also the only ServiceNow Master Solutions Partner operating in both North America and Europe, is the clear leader in practical application of ServiceNow and other cloud-based innovations within the modern enterprise. Combining the industry-leading expertise and proven track record of Fruition Partners with the scale, reach, industry penetration and extensive skill portfolio of CSC creates an extraordinary leadership position in the fast-growing enterprise software-as-a-service (Saas) market.
“CSC believes that innovative digital and cloud platforms including ServiceNow and other rapidly rising XaaS technologies like Salesforce and Workday are changing the way that professional services are delivered and providing huge opportunities for global enterprises - if implemented effectively and with vision,” said Jim Smith, executive vice president and general manager, Global Business Services, CSC. “Fruition Partners shares our vision and brings the ideal qualities needed to build and grow a worldwide cloud service management practice. These include solid growth, outstanding leadership and talent, breadth and depth of experience in cloud and ServiceNow implementations, an entrepreneurial and innovative culture, and an extensive blue-chip client list.”
“The combined CSC-Fruition Partners business is better positioned to help clients and the industry benefit from the associated ServiceNow growth and strengthens and scales the already compelling value proposition of our ServiceNow-based service management practice,” said Marc Talluto, co-founder and chief executive officer, Fruition Partners. “We intend to press this competitive advantage by cross-pollinating service offerings and best practices including pre-packaged accelerators and integrations, an exclusive shared ServiceNow knowledge base, and the world’s only fully managed ServiceNow application service offering.”
This acquisition will enhance the offerings and scale CSC provides to an ever-evolving client base through combined industry experience, advisory expertise, research and development investment, training capability and implementation resources. CSC boasts a 1,000-strong sales team aligned to key accounts worldwide, providing a significant boost to customer care for existing Fruition Partners’ clients.
Headquartered in Chicago with operations in the United States, Canada, United Kingdom and South America, the privately held company brings to CSC more than 300 practitioners covering ServiceNow, cloud development and service-management consulting capabilities; over 1,700 ServiceNow projects completed; and over 800 clients. As part of CSC’s Global Enterprise Solutions Consulting Group, it will join existing SAP, Oracle, Workday and Salesforce practices.
The closing of the acquisition is subject to customary conditions. Financial terms of the agreement were not disclosed. Closing of the transaction is expected in autumn 2015.
About CSC
Computer Sciences Corporation (CSC) is a global leader of next generation information technology (IT) services and solutions. The Company's mission is to enable superior returns on our clients’ technology investments through best-in-class industry solutions, domain expertise and global scale. CSC has approximately 70,000 employees and reported revenue of $11.7 billion for the 12 months ended July 3, 2015. For more information, visit the company's website at www.csc.com.
About Fruition Partners
Fruition Partners is a global technology-enabled services firm focused on elevating service management to the cloud. The company combines practical experience with technology-enabled tools and services to help organizations attain success throughout the entire Service Management process. With more than 1700 ServiceNow projects to its credit, Fruition Partners is a Master tier Solutions Partner of the leading enterprise cloud company, ServiceNow. Fruition Partners team of over 300 cloud-integration experts accelerate service management and ensure clients experience the cost and performance benefits quickly and easily. The company is a trusted partner to some of the world’s most respected organizations including Ally Financial, Cardinal Health, Delphi Automotive, Virteva, Travis Perkins, Waitrose, and various trusts within the UK National Health Service. For more information on Fruition Partners visit www.fruitionpartners.com.
About the CSC-ServiceNow Alliance
The strategic alliance between CSC and ServiceNow — the enterprise cloud company — makes ServiceNow’s transformative technology a foundational element in CSC’s portfolio of service management and service desk solutions. It also strengthens CSC’s ability to create powerful service integration and management offerings for clients with unique and complex needs. This partnership is the latest step in CSC’s continuous efforts to help clients simplify operations, increase overall service quality, improve resource utilization, and facilitate movement to the cloud. The resulting next-generation IT management solutions offer real IT-as-a-service capabilities, a single source of truth, reduced transition times, and tight integration with CSC offerings.
All statements in this press release and in all future press releases that do not directly and exclusively relate to historical facts constitute “forward-looking statements.” These statements represent the Company’s intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside the Company’s control. These factors could cause actual results to differ materially from such forward-looking statements. For a written description of these factors, see the section titled “Risk Factors” in CSC’s Form 10-K for the fiscal year ended April 3, 2015 and any updating information in subsequent SEC filings. The Company disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent event or otherwise, except as required by law.
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