CSC buys in Bulgaria
December 15th at 12:00am
CSC has announced the acquisition of Object Builder Software (OBS), a Bulgarian IT services firm. In a statement, CSC said the acquisition would ‘expand CSC’s global delivery capabilities and complement the company’s network of lower-cost centres in Eastern Europe’.
The addition of OBS expands CSC’s financial services and high technology capabilities in Europe, offering clients a stable workforce with low turnover and competitive hourly rates. Under the terms of the agreement, all OBS employees are expected to transfer to CSC, providing software development and systems integration support to CSC clients in five languages, including English, French, German, Russian and Bulgarian. The majority of OBS employees are located in Sofia, Bulgaria, with the balance in Varna.
“Bulgaria’s reputation as a low-cost Eastern European country strategically positioned to serve both Western and Eastern Europe enables OBS to operate as a nearshore delivery center for CSC’s European clients,” said Mary Jo Morris, president of CSC’s World Sourcing Services organization. “This new Bulgarian centre complements our existing European sourcing capabilities in Spain, Lithuania and the Czech Republic, and adds substantial capability in three key industry sectors: insurance, healthcare and high technology.”
Financial terms of the deal were not disclosed.