Why can't Australia sustain its IT companies? With rare exceptions, they seem to be unable to get past a certain size without moving offshore or being acquired by overseas interests.

The latest example is UXC.

After more than a decade of acquiring related businesses such as Getronics Australia, Integ, Keystone, LucidIT, Red Rock and Telsyte, IT services company UXC is on the verge of being acquired by US-based CSC.

CSC has five weeks to decide whether it really does want to acquire UXC, and any deal will be subject to the usual board and regulatory approvals.

The company said that if the transaction does proceed, it should be finalised by February 2016.

UXC has approximately 3,000 employees and $700 million annual revenue. CSC has 70,000 professional employees and annual revenue in excess of US$12 billion.

CSC recently completed its acquisition of ServiceNow consultancy Fruition Partners for an undisclosed amount.