Falls Church, Va.-based Computer Sciences (NYSE: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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