STAMFORD, Conn.-International Telecommunication Data Systems Inc. and Computer Sciences Corp. announced that ITDS will buy TRIS, a cellular telephone billing unit of Computer Sciences, for $100 million.
Under the terms of the agreement, ITDS will pay $90 million in cash and the remainder in ITDS common stock, which will give Computer Sciences about a 4-percent interest in ITDS.
“ITDS’ acquisition of TRIS represents a unique opportunity, and will position ITDS as the number two billing service bureau provider for wireless carriers and resellers in the world, servicing 29 of the top 30 markets in the United States,” said Peter Bassermann, chief executive officer of ITDS, adding that the transaction will more than double the company’s revenue in fiscal 1998.
With revenue for the fiscal year ended March 31 in excess of $40 million, TRIS serves more than 350 markets in the United States and processes more than 400 million call data records monthly.
“CSC has over $300 million annual revenue in the telecommunications area, but the provision of cellular billing systems is not central to the consulting, systems integration and outsourcing services we offer the industry,” said Van Honeycutt, chairman, president and chief executive officer of Computer Sciences. “It is, however, ITDS’ core business.”
