Centerbridge and Bridgeport Acquire CSI for $1.6 Billion; Plan on Widening the Company’s Product Line Moving Forward

Human beings are known to be good at many different things, and yet there is literally nothing we do better than growing on a consistent basis. This, in particular, has allowed us to hit upon some huge milestones along the way, with each one bringing a unique value to our lives. Now, while their unique nature doesn’t leave any room for comparisons, it’s still pretty clear how technology is miles ahead the rest of them. The reason why we say that, unsurprisingly enough, revolves around the creation’s unprecedented skill-set. However, it is also, at the same time, centred upon the manner in which those skills were used. In fact, the latter component was really what gave technology a spectrum-wide presence, but even after it got to such a monumental feat, technology continued growing under one capacity, and as a result, it also kept on widening our horizons over time. This pattern has become increasingly prevalent over the recent past, and one acquisition might just give it a lot more to play with moving forward.

Two private investment behemoths in Centerbridge Partners and Bridgeport Partners have officially agreed a deal to acquire Computer Science Inc for a whopping fee of $1.6 billion. According to certain reports, the acquisition will be completed through an all-cash transaction, with each shareholder now set to receive $58 per share. Interestingly enough, this unit figure includes a 53% premium on CSI’s closing stock price on Aug. 19, 2022, the last full trading day before the agreement was announced, and a premium of 54.4% over CSI’s 30-day volume-weighted average share price. While we often like to talk about the factors that inspired an acquisition, they are, in all honesty, quite self-explanatory here. Having started out in 1965, CSI has dominated its trade for several decades, and it has done so by helping banks and other financial institutions in regards to giving their operations a technological edge. This help, on a more granular level, came in the form of payment processing solutions, internal analytics initiatives, a cutting-edge approach to cybersecurity, and so much more. As for CSI’s excellence in these areas, it is proven well by the company’s esteemed clientele, which at the moment has more than 2,600 US customers. Beyond US, the tech giant has also enjoyed a strong presence in 30 other countries.

“For more than 57 years, CSI has been known as a leader in innovation and customer service. Centerbridge and Bridgeport have deep experience in technology and financial services as owners and operators. Working together after the closing, CSI intends to execute our strategic plans to expand and diversify our product offerings, transform our technology to leverage the scale and resiliency of the public cloud, and deploy optimized fintech and regtech solutions through our open banking and banking-as-a-service initiatives,” said David Culbertson, CSI’s President and CEO.

With Centerbridge and Bridgeport in its corner, CSI hopes to build out a bigger product pipeline for the future, while also making sure that every product is reaching the market much quicker than it does right now.

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