(Reuters) - U.S. technology services provider
Computer Sciences Corp (CSC) said it would acquire
healthcare software provider iSOFT Group Ltd for about
$188 million.
Computer Sciences will offer iSOFT shareholders A$0.17 a
share, 224 percent more than iSOFT's March 24 close on the
Australian Stock Exchange.
"When completed, this acquisition will be a critical step in
the expansion of our global healthcare business," CSC Chief
Executive Michael Laphen said in a statement.
Australia-based iSOFT Group, engaged in the development and
licensing of computer software and the supply of services to the
healthcare industry, was formed by a merger of iSOFT Group and
IBA Health.
The transaction is expected to close during the second
quarter of fiscal 2012, CSC said.
Shares of the Falls Church, Virginia-based CSC rose a
percent to $49.37 on Friday on the New York Stock Exchange. The
stock have gained 6 percent in the last six months.
($1 = 0.968 Australian Dollars)
(Reporting by Siddharth Cavale in Bangalore; Editing by Joyjeet
Das)
