CSC’s acquisition of iSoft approved by European Commission

CSC’s acquisition of iSoft approved by European Commission

Only approval by shareholders and final Court assent left to realise deal

CSC’s (NYSE: CSC) acquisition of healthcare IT solutions provider, iSoft (ASX:ISF), has been granted unconditional clearance by the European Commission to go ahead.

Since the deal has received clearance by the Commission, all that remains to complete the transaction is gaining the approval of shareholders and final Court assent in Australia.

CSC originally acquired all of the outstanding equity of iSoft via a court-approved scheme of arrangement in April, but there were fears that the deal might get derailed following the commencement of legal proceedings by iSoft founder Gary Cohen against investor Oceania Capital Partners in the same month.

Once completed, the acquisition of iSoft is expected to bolster CSC’s existing range of software products, services portfolio, and healthcare research and development capabilities.

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Tags servicessoftwarecsciSOFTresearch and developmentOceania Capital PartnersIT solutions

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