Computer Sciences Selling Applied Tech Division

By Rich Smith – May 30, 2013 at 5:25PM

NYSE: CSC

Computer Sciences Corporation

Financial terms not disclosed, but investors like the deal.

Falls Church, Va.-based Computer Sciences (CSC) announced Wednesday that it is selling its Applied Technology Division to privately held PAE, a leading provider of "global mission services."

The transaction, slated to close this summer, will shift to PAE a workforce 5,400 employees strong, and a business serving the U.S. Department of Defense, NASA, and other government customers in the spheres of aviation maintenance, base operations and maintenance, test and training ranges, and space range support. It will also be PAE's entree into the fields of military and space testing and training services.

Financial terms were not disclosed.

CSC shares rose in response to news of the sale yesterday and finished up Thursday at $44.32.

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