Friday, provider of IT and business process outsourcing and services, Computer Sciences Corp., or CSC, (CSC), said it signed a contract with Waltham, Massachusetts-based defense contractor Raytheon Company (RTN), to provide a range of information technology support services.
Though financial terms of the deal were not disclosed, it would replace an expiring 10-year contract between the companies, and has a five-year base period with two one-year options. The contract runs through February 2015.
The contract requires Falls Church, Virginia-based CSC to provide a range of services including desktop, network and data center support across Raytheon's U.S. operations.
CSC has around 92,000 employees and reported revenue of $16.2 billion for the 12 months ended July 3, 2009. CSC's worldwide network supports 8,000 users in 90 locations around the world.
CSC is currently trading at $52.44, down $0.26 or 0.49%, on a volume of 0.29 million shares, while RTN is trading at $47.49, up $0.41 or 0.87%, on a volume of 1.10 million shares on the NYSE.
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