Feeds

Lockheed pulls out of CSC buy

It was on, now it's off

Choosing a cloud hosting partner with confidence

Defence contractor Lockheed Martin is pulling out of discussions which could have led to it buying Computer Science Corporation (CSC).

The defence supplier was leading a posse of private investors including Blackstone Group, Texas Pacific Group and Warbug Pincus. The original claim was that Lockheed would pick up the government contracts while commercial agreements would go to the other investors.

The Wall Street Journal, which broke the original story, reports CSC wanted a starting price of $65 dollars a share, or a total value of $12bn - which proved too rich for the would-be buyers. CSC shares are currently changing hands on the New York Stock Exchange for $54.80.

The deal was seen as bolstering Lockheed's traditional IT services business as well as bolstering its defence work which increasingly requires the support of a bundle of IT services and software.®

Internet Security Threat Report 2014

More from The Register

next story
Bono apologises for iTunes album dump
Megalomania, generosity and FEAR of irrelevance drove group to Apple deal
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.