EU clears CSC for iSOFT acquisition

Peter Dinham
Wednesday, 22 June 2011 18:36

IT Industry - Listed Tech

The European Commission (EU) has given an unconditional clearance to the listed US global IT services provider, CSC, to go ahead with the acquisition of the troubled e-healthcare software giant, iSOFT.

CSC reported today that the EU had cleared the way for the acquisition to proceed, with all regulatory consents to the transactions now being given. However, completion of the deal still remains subject to gaining shareholder approval and final Court assent in Australia.

EU approval comes several weeks after it was reported that CSC was looking to buy iSOFT which has been struggling financially in the past year.

iSOFT(ASX: ISF) is the largest health information technology company listed on the Australian Securities Exchange, and among the world's biggest providers of advanced application solutions in modern healthcare economies.

Head of corporate affairs at CSC, Sheila Dhilon, said that the acquisition, once completed, would complement and strengthen CSC's market-leading software products and healthcare integration and services portfolio, while enhancing its healthcare research and development capabilities, as well as accelerating the company's strategic growth plan in the Life Sciences market and reinforcing CSC as a very strong player in healthcare information technology.