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DXC Technology

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DXC Technology Company
Company typePublic
Industry
Predecessors
FoundedApril 3, 2017; 7 years ago (2017-04-03)
Headquarters
Ashburn, Virginia
,
U.S.[1]
Area served
Worldwide
Key people
RevenueDecrease US$16.27 billion (2022)
Increase US$139 million (2022)
Increase US$718 million (2022)
Total assetsDecrease US$20.14 billion (2022)
Total equityIncrease US$5.05 billion (2022)
Number of employees
130,000 (March 2022)
Subsidiaries
Websitewww.dxc.com
Footnotes / references
Financials as of March 31, 2022[1]

DXC Technology is an American multinational information technology (IT) services and consulting company headquartered in Ashburn, Virginia.[3]

History

DXC Technology was founded on April 3, 2017 when the Hewlett Packard Enterprise Company (HPE) spun off its Enterprise Services business and merged it with Computer Sciences Corporation (CSC).[4] At the time of its creation, DXC Technology had revenues of $25 billion, employed 170,000 people and operated in 70 countries.[5]

The spinoff from Hewlett Packard Enterprise did not include two parts of the Enterprise Services segment: the Mphasis Limited reporting unit and the Communications and Media Solutions product group.[4]

In India, the company started a three-year plan to reduce the number of offices in the country from 50 to 26, and reduce headcount by 5.9% (around 10,000) employees.[6] With about 43,000 employees (more than a third of its workforce) in India, the company is restructuring its workforce to meet its new revenue profile.[7]

In 2017, DXC split off its US public sector segment to create a new company, Perspecta Inc.[8]

Mike Salvino, the former Accenture chief group executive, was named president and CEO of DXC Technology in 2019.[9]

In February 2021, French technology services and consulting firm Atos ended talks for a potential acquisition of DXC.[10][11] Atos had proposed for US$10 billion including debt for acquisition.[12][13]

As of November 2021, DXC employed 134,000 in over 70 countries, including the United States, India, the Philippines, Central Europe and Vietnam.[14][15]

Acquisitions

In July 2017, DXC purchased enterprise software company Tribridge and its affiliate company Concerto Cloud Services for $152 million.[16][17]

In 2018, it announced additional acquisitions, including Molina Medicaid Solutions (previously part of Molina Healthcare), Argodesign and two ServiceNow partners, BusinessNow and TESM.[18]

In January 2019, DXC Technology acquired Luxoft. According to information from the SEC database, DXC Technology then owned 83% of Luxoft. The deal closed in June 2019.[19]

Programs and sponsorships

Dandelion Program

Piloted in Adelaide, Australia, in 2014, the DXC Dandelion Program has grown to over 100 employees in Australia,[20] working with more than 240 organizations in 71 countries to acquire sustainable employment for individuals with autism.[21] In June 2021, DXC piloted the Dandelion Program in the UK.

Sports

The company sponsored Team Penske[22] with 2016 Series Champion and 2019 Indianapolis 500 winner Simon Pagenaud, and in 2018 became title sponsor of IndyCar Series race DXC Technology 600.[23] DXC is also a partner of Australian Rugby Union team Brumbies.[24] In 2022, the company became the new sleeve sponsor for English football club Manchester United.

See also

References

  1. ^ a b "DXC Technology Annual Report for fiscal year ending March 31, 2022". U.S. Securities and Exchange Commission. pp. 7, 62–63. Retrieved May 26, 2022.
  2. ^ "DXC Executive Leadership". DXC Technology. Retrieved February 28, 2021.
  3. ^ "DXC Technology - Company profile". Fortune. Retrieved March 17, 2019.
  4. ^ a b "DXC Technologies finalizes $5B spinoff of health, human services business". Virginia Business. October 5, 2020. Retrieved October 27, 2020.
  5. ^ "Newly-formed DXC to reskill its staff, operations". India Times. April 5, 2017. Retrieved March 17, 2019.
  6. ^ "7 top IT firms to lay off 56,000 this year, new tech and Trump's policies blamed". Hindustan Times. July 19, 2017. Retrieved March 17, 2019.
  7. ^ "As DXC cuts jobs, India amongst the most hit". India Times. June 13, 2019. Retrieved June 18, 2019.
  8. ^ "2018 Mergers and Acquisitions Redefine IT Market: This Is IT". Blommberg Government. March 6, 2019. Retrieved March 17, 2019.
  9. ^ Johnson, O’Ryan (September 11, 2019). "DXC Picks Former Accenture Executive As New CEO As Mike Lawrie Retires". CRN. Retrieved February 5, 2021.
  10. ^ "DXC Technology rejects $10 billion Atos bid, and Atos walks away".
  11. ^ "DXC Technology Statement".
  12. ^ "Atos ends talks with DXC for a potential acquisition".
  13. ^ "TCS may lose spot as world's third largest IT services firm".
  14. ^ Cordell, Carten (May 28, 2021). "DXC hopes for brighter fiscal year after selling off divisions, cutting costs". American City Business Journals. Retrieved April 25, 2022.
  15. ^ Chowdhary, Sudhir (November 10, 2021). "We have a relentless focus on innovation: Nachiket Sukhtankar, MD, DXC Technology". Financial Express. Retrieved April 26, 2022.
  16. ^ Manning, Margie (November 9, 2017). "What DXC paid to buy Tribridge". American City Business Journals. Retrieved April 26, 2022.
  17. ^ Carollo, Malena (July 6, 2017). "Va. Tech Firm Dxc Buys Tribridge". Tampa Bay Times. Retrieved April 26, 2022.
  18. ^ "DXC (DXC) Down 1.9% Since Last Earnings Report: Can It Rebound?". Nasdaq. December 6, 2018. Retrieved March 17, 2019.
  19. ^ "DXC Technology Completes Acquisition Leading Digital Innovator". businesswire. June 14, 2019.
  20. ^ Corner, Stuart (July 30, 2019). "DXC teams with Autism NZ for skills training". Computerworld. Retrieved November 3, 2020.
  21. ^ Paredes, Divina (December 9, 2018). "DXC launches program to help people on the autism spectrum build ICT careers". CIO. Retrieved November 3, 2020.
  22. ^ "TEAM PENSKE PARTNERS". Team Penske. Retrieved January 9, 2019.
  23. ^ "DXC Technology Named Title Sponsor of Texas Motor Speedway Race". indycar.com. Retrieved January 9, 2019.
  24. ^ "Our Partners - Brumbies Rugby". Brumbies Rugby. Archived from the original on July 9, 2017. Retrieved January 9, 2019.
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