- Market leading insurance software, Xuber, which has served the global complex commercial insurance market for over 40 years.
- Deep domain expertise and leadership within the London insurance market, where Xchanging has been recognized as the number one provider of services and technology since 2001.
- A leading position providing property and casualty insurance and wealth management business processing services.
"Our integrated organization will now offer innovative, next-generation technology solutions and services to every segment of the insurance market globally," said Phil Ratcliff, vice president and general manager of CSC's global insurance industry. "Together, we will innovate, design and deliver the most challenging insurance projects for our clients, transforming their businesses and the market."The way insurance is being bought, sold and managed is changing rapidly," Ratcliff continued. "Many insurers now recognize the need to take a 'digital first' approach in order to maintain their relevance with distributors and clients. The coming together of these two organizations provides a complementary set of technology and business process services to help insurers on their road to digital." Commenting on the integration, Jamie Macgregor, senior vice president, global insurance at Celent, a research and management consulting firm focused on the application of IT in the global financial services industry, said: "The addition of Xchanging strengthens CSC's insurance footprint where, according to Celent's own data, it is the largest provider of core insurance solutions globally. For Xchanging clients, CSC brings with it a whole new set of capabilities and skills relevant to its own segment of the market, in areas such as digital transformation, cloud orchestration and broader technology services." The combination of CSC and Xchanging is the culmination of a due diligence process that began in November 2015. On December 9, 2015, CSC's Board of directors, along with the Board of Xchanging, agreed to terms of the recommended transaction under which CSC would acquire Xchanging at the price of £1.90 per share in cash. On January 18, 2016, CSC announced that acceptances had been received from Xchanging shareholders holding approximately 87 percent of the existing issued share capital of Xchanging. The acquisition has now closed following receipt of merger control and regulatory clearances. ABOUT CSC CSC (NYSE: CSC) leads clients on their digital transformation journeys. The company provides innovative next-generation technology services and solutions that leverage deep industry expertise, global scale, technology independence and an extensive partner community. CSC serves leading commercial and international public sector organizations throughout the world. CSC is a Fortune 500 company and ranked among the best corporate citizens. For more information, visit the company's website at www.csc.com.