(Bloomberg) -- Computer Sciences Corp. (CSC), a U.S. software and technology consultant, agreed to buy Xchanging Plc for about 480 million pounds ($722 million) in cash to expand its business in the global insurance market, topping an offer from Capita Plc

Computer Sciences will pay 1.90 pounds a share in cash, according to a statement from the company Wednesday. The price is 8.1 percent more than Xchanging’s closing price Tuesday and above what U.K.’s Capita had offered. Xchanging’s board has agreed to Computer Sciences’ offer.

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