CSRA completes separation from CSC, will begin trading on the NYSE
CSRA Inc. announced on November 30 that it has completed its separation from CSC and is now an independent public company trading on the New York Stock Exchange (“NYSE”) under the ticker symbol “CSRA.” Additionally, CSRA completed its planned combination with SRA International, Inc. (SRA). On November 30, members of the CSC and CSRA leadership teams rang the NYSE Opening Bell to mark the milestone.
CSRA, with 19,000 employees and pro-forma revenues of $5.5 billion, helps U.S. government customers modernize their legacy systems, protect their networks and assets, and improve the effectiveness and efficiency of mission-critical functions. CSC is a leading global IT services company with 56,000 employees in more than 60 countries. CSC leads clients on their digital transformation journeys by providing innovative, next-generation technology solutions that leverage alliance partners, proprietary intellectual property (IP) and extensive domain expertise.
“A little more than six months ago, CSC’s Board of Directors determined that two leading pure-play companies, focused exclusively on their respective customer segments, would best serve the interests of our clients, employees and other stakeholders,” said Mike Lawrie, CSC president and CEO and CSRA chairman. “The debut of CSRA and the completion of the merger with SRA accelerate our transformational goals and enable both CSC and CSRA to drive innovation and better address the demands of the markets they serve. On behalf of both Boards and leadership, I want to thank everyone who helped make today a reality.”
“By combining the former CSC and SRA businesses into CSRA, we have created the leading provider of next generation IT solutions that will really make a difference in how our government serves our country and our citizens,” said Larry Prior, chief executive officer, CSRA. “I am proud of the heritage, culture, and people of both of these great organizations and excited about moving forward together as a single, stronger company dedicated to supporting the important missions of our customers.”
Effective November 27, 2015, Mike Lawrie, Keith Alexander, Sanju Bansul, Michèle Flournoy, Mark Frantz, Nancy Killefer, Sean O’Keefe, Larry Prior and Michael Ventling were appointed to CSRA’s Board of Directors, joining Billie Williamson who was appointed earlier as a member of CSRA’s Board and Audit Committee.
Additionally, upon completion of the merger with SRA, the CSRA Board appointed David Keffer as chief financial officer and John Reing as chief human resources officer.