UK insurance outsourcing group Xchanging will be delisted today from the London Stock Exchange in accordance with the takeover terms set out by Computer Sciences Corporation (CSC).

The cancellation of Xchanging’s listing and trading will take effect on or after the London exchange opens at 8am London time today (4pm AEST).

New York-listed CSC sealed its £480 million ($943 million) cash offer for Xchanging last month and as part of the takeover terms, the UK firm will be delisted if 75% or more of its shareholders back the deal.

Xchanging will hold its AGM on June 28 and CEO Craig Wilson has been named chairman for the purpose of chairing the session.