CSC Completes Xchanging Acquisition
Source: Insurance Times
Technology group CSC has completed its acquisition of insurance outsourcing firm Xchanging.
The companies said the deal will "create a new leader in technology and business process services for the global insurance industry".
CSC also said acquisition will put it "at the heart of the insurance industry's digital transformation".
To buy Xchanging, CSC has fought off several suitors, including outstanding firm Capita, private equity house Apollo and insurance software company Ebix.
CSC emerged as the favourite in December last year, when Xchanging's board backed an increased offer from the firm.