Computer Sciences Corp. is buying information technology service provider Covansys Corp. in a $1.3 billion cash deal.

Computer Sciences said it will pay $34 for all outstanding shares in the Farmington Hills, Mich.-based company, a 27 percent premium over Covansys’ closing stock price of $26.80 on Wednesday.

The El Segundo computer services company expects the deal to have little or no effect on its earnings over the next year. The company has already approved the deal, which is expected to close in the fiscal second quarter.

Shares of Covansys rose $6.52, or 24 percent, to $33.32 in morning trading on the Nasdaq.

Shares of Computer Sciences were down 56 cents to $55.41 in afternoon trading Thursday on the New York Stock Exchange.