DXC Technology explained

DXC Technology Company
Type:Public
Location City:Ashburn, Virginia
Location Country:U.S.
Area Served:Worldwide
Revenue: (2024)
Operating Income: (2024)
Net Income: (2024)
Equity: (2024)
Num Employees:130,000 (2024)
Footnotes:Financials .[1]

DXC Technology Company is an American multinational information technology (IT) services and consulting company headquartered in Ashburn, Virginia.[2]

History

DXC Technology was founded on April 3, 2017, when Hewlett Packard Enterprise’s Enterprise Services business unit merged with Computer Sciences Corporation. The company provided business-to-business IT services.[3] It began trading on the New York Stock Exchange under the symbol DXC.[4] At the time of its creation, DXC Technology had revenues of $25 billion.[5]

In 2017, DXC split off its US public sector segment to create a new company, Perspecta Inc.[6]

Mike Salvino, the former Accenture chief group executive, was named president and CEO of DXC Technology in 2019.[7]

Raul Fernandez, who was in the board of directors, was appointed as the president and chief executive officer of DXC Technology in 2024.

In February 2021, French technology services and consulting firm Atos ended talks for a potential acquisition of DXC.[8] [9] Atos had proposed for US$10 billion including debt for acquisition.[10] [11]

, DXC employed 134,000 in over 70 countries, including the United States, India, the Philippines, Central Europe and Vietnam.[12] [13]

In October 2023, DXC was delisted from S&P 500 Index, and moved to the S&P SmallCap 600 Index.

Acquisitions

In July 2017, DXC purchased enterprise software company Tribridge and its affiliate company Concerto Cloud Services for $152 million.[14] [15]

In 2018, it announced additional acquisitions, including Molina Medicaid Solutions (previously part of Molina Healthcare), Argodesign and two ServiceNow partners, BusinessNow and TESM.[16]

In January 2019, DXC Technology acquired Luxoft. The deal closed in June 2019.[17]

Programs and sponsorships

Dandelion Program

Piloted in Adelaide, South Australia, in 2014, the DXC Dandelion Program has grown to over 100 employees in Australia,[18] working with more than 240 organizations in 71 countries to acquire sustainable employment for individuals with autism.[19] In June 2021, DXC piloted the Dandelion Program in the UK.

Sports

The company sponsored Team Penske[20] with 2016 Series Champion and 2019 Indianapolis 500 winner Simon Pagenaud, and in 2018, became title sponsor of IndyCar Series race DXC Technology 600.[21] DXC is also a partner of Australian Rugby Union team Brumbies.[22] In 2022, the company became the new sleeve sponsor for English football club Manchester United.[23] In May 2023, the company signed a multi-year partnership with Scuderia Ferrari starting from the 2023 Miami Grand Prix onwards.[24] [25]

See also

Notes and References

  1. Web site: DXC Technology Annual Report for fiscal year ending March 31, 2024 . May 18, 2024 . May 17, 2024 . . 3, 62–63.
  2. Web site: DXC Technology - Company profile . March 17, 2019 . . December 27, 2019 . https://web.archive.org/web/20191227142427/https://fortune.com/fortune500/dxc-technology/ . dead .
  3. News: Aaron . Gregg . This IT firm got rid of its federal work during sequestration. Now it wants back in. . Washington Post . April 9, 2017 . March 31, 2023.
  4. News: Kolenc . Vic . HP, Juarez sites join new firm: DXC Technology formed by merger of companies . April 26, 2022 . El Paso Times . April 27, 2017.
  5. Web site: April 5, 2017 . Newly-formed DXC to reskill its staff, operations . March 17, 2019 . India Times.
  6. Web site: March 6, 2019 . 2018 Mergers and Acquisitions Redefine IT Market: This Is IT . March 17, 2019 . Blommberg Government.
  7. News: Johnson . O’Ryan . DXC Picks Former Accenture Executive As New CEO As Mike Lawrie Retires . February 5, 2021 . . September 11, 2019.
  8. Web site: DXC Technology rejects $10 billion Atos bid, and Atos walks away. February 2, 2021 .
  9. Web site: DXC Technology Statement.
  10. News: Atos ends talks with DXC for a potential acquisition. The Economic Times . February 2, 2021 .
  11. Web site: TCS may lose spot as world's third largest IT services firm. January 12, 2021 .
  12. News: Cordell . Carten . DXC hopes for brighter fiscal year after selling off divisions, cutting costs . April 25, 2022 . . May 28, 2021.
  13. News: Chowdhary . Sudhir . We have a relentless focus on innovation: Nachiket Sukhtankar, MD, DXC Technology . April 26, 2022 . . November 10, 2021.
  14. News: Manning . Margie . What DXC paid to buy Tribridge . April 26, 2022 . . November 9, 2017.
  15. News: Carollo . Malena . Va. Tech Firm Dxc Buys Tribridge . April 26, 2022 . . July 6, 2017.
  16. Web site: December 6, 2018 . DXC (DXC) Down 1.9% Since Last Earnings Report: Can It Rebound? . March 17, 2019 . Nasdaq.
  17. News: DXC Technology Completes Acquisition of Leading Digital Innovator Luxoft . June 14, 2023.
  18. Web site: Corner. Stuart. July 30, 2019. DXC teams with Autism NZ for skills training. November 3, 2020. Computerworld. en.
  19. Web site: Paredes. Divina. December 9, 2018. DXC launches program to help people on the autism spectrum build ICT careers. November 3, 2020. CIO. en.
  20. Web site: TEAM PENSKE PARTNERS . January 9, 2019 . Team Penske.
  21. Web site: DXC Technology Named Title Sponsor of Texas Motor Speedway Race . January 9, 2019 . indycar.com.
  22. News: Our Partners - Brumbies Rugby . Brumbies Rugby . dead . January 9, 2019 . https://web.archive.org/web/20170709010141/https://www.brumbies.com.au/partners/ . July 9, 2017.
  23. News: Mukherjee . Supantha . July 6, 2022 . DXC to become Man United's sleeve sponsor, manage digital presence . en . Reuters . May 5, 2023.
  24. Web site: May 3, 2023 . Driven by Innovation: DXC Technology Announces Partnership with Scuderia Ferrari . May 5, 2023 . AsiaOne . en.
  25. Web site: May 3, 2023 . DXC Technology adds Ferrari to sponsorship portfolio . May 5, 2023 . SportBusiness . en-US.

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