Computer Sciences Selling Applied Tech Division
Falls Church, Va.-based Computer Sciences announced Wednesday that it is selling its Applied Technology Division to privately held PAE, a leading provider of "global mission services."
The transaction, slated to close this summer, will shift to PAE a workforce 5,400 employees strong, and a business serving the U.S. Department of Defense, NASA, and other government customers in the spheres of aviation maintenance, base operations and maintenance, test and training ranges, and space range support. It will also be PAE's entree into the fields of military and space testing and training services.
Financial terms were not disclosed.
CSC shares rose in response to news of the sale yesterday and finished up Thursday at $44.32.
The article Computer Sciences Selling Applied Tech Division originally appeared on Fool.com.Fool contributor Rich Smith and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.