Centerbridge and Bridgeport to buy Computer Services for $1.6 bn

Computer Services has agreed to be acquired by investment firms Centerbridge Partners and Bridgeport Partners for $1.6 billion.
Dollar spending on technology
The all-cash deal is valued at $58 per share, a premium of about 53 percent on the stock’s last closing price.

Kentucky-based Computer Services provides IT servicing, digital banking and cybersecurity management.

CSI said David Culbertson, its current chief executive officer, will continue to lead the firm after the transaction closes likely in the fourth quarter of this year.

The deal follows a strategic review by the company, which operates globally in 30 countries and serves 2,600 customers in the United States, including Banterra Bank and Texas Bank.

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