BANGALORE, INDIA:CSC, a provider in technology-enabled solutions, today announced that it has acquired the Object Builder Software (OBS), a Bulgarian information technology (IT) services firm.

The addition of OBS would expand CSC's financial services and high technology capabilities in Europe, offering clients a stable workforce with low turnover and competitive hourly rates, said a press release.

The deal states that all OBS employees are expected to transfer to CSC, providing software development and systems integration support to CSC clients in five languages, including English, French, German, Russian and Bulgarian, it added.

The majority of OBS employees are located in Sofia, Bulgaria, with the balance in Varna.

"Bulgaria's reputation as a low-cost Eastern European country strategically positioned to serve both Western and Eastern Europe enables OBS to operate as a nearshore delivery center for CSC's European clients," said Mary Jo Morris, president of CSC's World Sourcing Services organization.

Morris added that the new Bulgarian center would complement their existing European sourcing capabilities in Spain, Lithuania and the Czech Republic and would add substantial capability in three key industry sectors: insurance, healthcare and high technology.

The OBS acquisition is part of CSC's strategy to expand the company's global network by opening centers in locations previously untapped by competitors, the release said.

"OBS has partnered with CSC for more than ten years in the financial services sector supporting the development and integration of our products and services in Europe. This acquisition will enable CSC to leverage that capability more broadly across our client base. We are pleased to welcome OBS into the CSC family," Morris said.