KUALA LUMPUR, Jan 8 (Bernama) – DXC Technology and Luxoft Holding Inc have announced a definitive agreement for DXC to acquire Luxoft.
Pursuant to the agreement, all of the issued and outstanding Luxoft Class A and Class B ordinary shares will receive US$59 (US$1 = RM4.11) per share in cash, representing a total equity value of approximately US$2 billion.
Together, DXC and Luxoft will offer a differentiated customer value proposition for end-to-end digital transformation by combining Luxoft’s digital engineering capabilities with DXC’s expertise in IT modernisation and integration.
Luxoft provides digital strategy consulting and engineering services for companies across North America, Europe and the Asia Pacific region.
Headquartered in Zug, Switzerland, the company achieved US$911 million in revenue over the last four reported quarters, with a strong, double-digit compound annual growth rate (CAGR) over the last three years.
“Luxoft and DXC are highly complementary, and our shared vision of digital transformation makes this strategic combination a great fit for both organisations -- as well as enormously beneficial for our clients,” said DXC Technology chairman, president and chief executive officer (CEO), Mike Lawrie, in a statement today.
“Our success in recent years has been led by our talent and ability to design, develop and deliver truly innovative digital solutions tailored to client business needs.
“Aligning with DXC presents an exciting opportunity to unlock new value for our people, clients and partners,” said Luxoft president and CEO, Dmitry Loschinin.
Closing of the transaction is anticipated by June 2019. For details, visit http://www.dxc.technology/ and www.luxoft.com.
-- BERNAMA
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