Unisys Corporation, a Delaware corporation (Unisys, we, our, or the company), is a global information technology (IT) company that builds high-performance, security-centric solutions for clients across the Government, Financial Services and Commercial markets. Unisys offerings include security software and services; digital transformation and workplace services; industry applications and services; and innovative software operating environments for high-intensity enterprise computing.
We operate in two business segments – Services and Technology.
Principal Products and Services
We deliver high-performance, security-centric, leveraged services and solutions across industries, industry-specific application products and technology solutions worldwide to our primary target markets: Government (the U.S. federal government and other public sector organizations in the U.S. and around the world), Commercial (e.g., travel and transportation and life sciences and healthcare) and Financial Services (e.g., commercial and retail banking).
We market our products and services solutions primarily through a direct sales force. Complementing our direct sales force, we make use of a select group of resellers and alliance partners to market our services and product portfolio. In certain countries, we market primarily through distributors.
Our solutions are designed to build better outcomes - securely - for our clients, enabling them to:
- Enhance enterprise security;
- Transform core business processes to compete more effectively in their markets;
- Improve user engagement for customers and workers, streamline operations and enhance go-to-market efforts;
- Optimize IT infrastructure to meet digital-business requirements; and
- Simplify management of IT infrastructure and service delivery.
Within Services, our principal solutions include cloud and infrastructure services, application services and business process outsourcing services, each of which is delivered with advanced security built in.
- In cloud and infrastructure services, we help clients apply cloud and as-a-service delivery models to capitalize on business opportunities, make their end users more productive, and manage and secure their IT infrastructure and operations more economically.
- In application services, we help clients transform their business processes by developing and managing new leading-edge applications for select industries, offering advanced data analytics and modernizing existing enterprise applications.
- In business process outsourcing services, we assume management of critical processes and functions for clients in target industries, helping them improve performance and reduce costs.
We deliver some of these capabilities through our leveraged Services solutions, which include:
- Unisys InteliServe™, a service solution that transforms traditional service desk into an intelligent, user-centric experience aligned with the needs of the modern digital workplace. The service leverages the InteliServe platform, an integrated suite of technologies for omnichannel support, advanced analytics, automation, artificial intelligence, machine learning and identity authentication.
- Unisys CloudForte®, a comprehensive managed service offering to help accelerate the secure move of data and applications to the cloud. The solution is available for Microsoft Azure, AWS, and hybrid cloud environments and includes the following features: an automated software-as-a-service platform to identify and provision private, public and hybrid cloud services, real-time analytics, and capabilities for industrial-grade modernization of legacy applications.
- Unisys Security Solutions, a portfolio that includes managed security services, security consulting services, the Unisys Incident Response Ecosystem subscription service and the TrustCheck™ cyber risk management solution, and that is underpinned by the company’s Zero Trust security approach.
In technology, we design and develop software, servers and related products to help clients reduce costs, improve security and flexibility, and improve the efficiency of their data center environments. As a pioneer in large-scale computing, we offer deep experience and rich technological capabilities in transaction-intensive, mission-critical environments.
Our Technology products include:
- Unisys ClearPath Forward®, a secure, scalable software operating environment for high-intensity enterprise computing capable of delivering Unisys security across multiple platforms. The ClearPath Forward operating environment is hardware-independent and provides a tested, integrated stack of software products that run on a range of contemporary, commonly-deployed Intel x86 server platforms and select virtualization environments of the client’s choice.
- Unisys Stealth® security software, which enables trusted identities to access micro-segmented critical assets and safely communicate through secure, encrypted channels. Stealth™ establishes user authentication, prevents lateral attacker movement and reduces data center, mobile and cloud attack surfaces and quickly isolates devices or users at the first sign of compromise. Stealth also reduces the cost and complexity of securing information and operation technology such as industrial control systems, allowing organizations to meet compliance and security mandates.
Our industry application products include solutions that securely help law enforcement agencies solve crime and social
services case workers assist families; travel and transportation companies manage freight and distribution; and financial
institutions deliver omnichannel banking.
On February 5, 2020, we entered into an asset purchase agreement to sell our U.S. Federal business to Science
Applications International Corporation for a cash purchase price of $1.2 billion, subject to a net working capital adjustment.
The U.S. Federal business provides certain products and services to U.S. federal government customers. The sale is
expected to close in the first half of 2020 and is subject to receipt of regulatory clearance under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976 as well as the satisfaction or waiver of other customary closing conditions. The U.S.
Federal business, which has operations in both of our reporting segments of Services and Technology, generated 2019
revenue and pre-tax income of approximately $725 million and $100 million, respectively. The U.S. Federal business will be
reported as discontinued operations in 2020.
When the sale is complete, we expect to report an after-tax gain on the sale of approximately $1 billion. Due to the
company’s U.S. tax position, no federal income tax is expected to be payable on the sale and, subject to the final purchase
price allocation to the assets sold, state income taxes are expected to be minimal. We primarily intend to use the net
proceeds from the sale to redeem our senior secured notes due 2022 and reduce our obligations under our U.S. defined
benefit pension plans.
In connection with the entry into the asset purchase agreement to sell the U.S. Federal business, we also adopted a Tax
Asset Protection Plan designed to protect our tax assets in contemplation of the sale transaction. This plan is similar to tax
benefit protection plans adopted by other public companies with significant tax attributes and is designed to protect our
valuable tax assets by reducing the likelihood of an “ownership change” through actions involving our securities. See “Risk
Factors - Risks Related to the Announced Sale of the Company’s U.S. Federal Business - An ‘ownership change’ could limit
the company’s ability to utilize net operating losses and certain other tax attributes to offset the gain from the pending sale
of the U.S. Federal business” for more information.