DXC Technology has now revealed that its intention to acquire the software development firm Luxoft for around $2 Billion. DXC said that the acquisition will now going to accelerate its digital growth and scale out the strategy, and will also widen the access to the digital talent, with the Luxoft currently boasting a workforce of close to 13000 people.
Under the deal, all of the issues and the outstanding Luxoft Class A and B ordinary shares will be going to receive the $59 per share in cash. The company which is founded in Russia and headquartered in Zug, Switzerland. Luxoft offers the digital strategy consulting and engineering services for the company across Europe, North America, and the Asia Pacific region.
The company works in the field of UI/UX, analytics, blockchain spaces and the Internet of Things and also has its hands in the outsourced engineering services, DevOps and cloud. DXC has reported and revealed that Luxoft had made $911 Million in revenue in the last 12 months.
“Luxoft and DXC are as of now one of the most highly complementary, and our highly shared vision of digital transformation makes this strategic combination a great fit for both organizations — as well as with the enormously beneficial for our clients,” DXC Technology Mike Lawrie, chairman, president, and CEO said.
“Luxoft has also been proven to keep the track record and having great expertise in producing one of the most measurable business outcomes at-scale for global clients across the several key industries, which even includes the automotive and financial services.”
With the help of this new offerings on the agenda for the DXC following the closure of the Luxoft deal will also see the company target the financial services, insurance, life sciences, and healthcare, and the automotive sectors which are as of now specifically around the cloud and security for connected auto services. Just a few weeks back, EY also acquires Fortune Cookies $200 Million.
About DXC Technology
DXC Technology has formed in the month of April 2017 as the result of the collaboration of the Computer Science Corp and the Hewlett Packard Enterprises. At the time of closing of the deal, the new $26 Billion IT services giant has around 6000 clients in more than 80 countries.