Under the agreement, EDS and Telindus will provide the government with a range of application development, networking, and cybersecurity services. Many of the services will be provided at Telindus' International Service Center in Heverlee, Belgium.
EDS can use any cash generated by the deal. Earlier this week, the company issued $1.7 billion in long-term debt and saw its credit rating downgraded to a level just above junk-bond status by Moody's Investor Services. EDS said the downgrade, among other things, forced the company to meet a contractual obligation to make payment in full for a software contract valued at $227 million.