Company:DXC Technology

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Short description: American multinational IT services company
DXC Technology Company
TypePublic
  • NYSE: DXC
  • S&P 600 component[1]
  • Russell 1000 component
Industry
Predecessors
FoundedApril 3, 2017; 6 years ago (2017-04-03)
Headquarters
Ashburn, Virginia
,
U.S.[2]
Area served
Worldwide
Key people
  • Raul Fernandez
  • (Interim CEO)[3]
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 2022)[2]

DXC Technology Company is an American multinational information technology (IT) services and consulting company headquartered in Ashburn, Virginia.[4]

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.[5] It began trading on the New York Stock Exchange under the symbol DXC.[6] At the time of its creation, DXC Technology had revenues of $25 billion.[7]

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.[8] 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.[9]

In 2017, DXC split off its United States public sector segment to create a new company, Perspecta Inc.[10]

Mike Salvino, the former Accenture chief group executive, was named president and CEO of DXC Technology in 2019.[11]

In February 2021, French technology services and consulting firm Atos ended talks for a potential acquisition of DXC.[12][13] Atos had proposed for US$10 billion including debt for acquisition.[14][15]

(As of November 2021), DXC employed 134,000 in over 70 countries, including the United States, India, the Philippines, Central Europe and Vietnam.[16][17]

In October 2023, DXC was delisted from S&P 500 Index, and moved to the S&P SmallCap 600 Index.[1]

Acquisitions

In July 2017, DXC purchased enterprise software company Tribridge and its affiliate company Concerto Cloud Services for $152 million.[18][19]

In 2018, it announced additional acquisitions, including Molina Medicaid Solutions (previously part of Molina Healthcare), Argodesign and two ServiceNow partners, BusinessNow and TESM.[20]

In January 2019, DXC Technology acquired Luxoft. The deal closed in June 2019.[21]

Programs and sponsorships

Dandelion Program

Piloted in Adelaide, South Australia, in 2014, the DXC Dandelion Program has grown to over 100 employees in Australia,[22] working with more than 240 organizations in 71 countries to acquire sustainable employment for individuals with autism.[23] In June 2021, DXC piloted the Dandelion Program in the UK.

Sports

The company sponsored Team Penske[24] with 2016 Series Champion and 2019 Indianapolis 500 winner Simon Pagenaud, and in 2018, became title sponsor of IndyCar Series race DXC Technology 600.[25] DXC is also a partner of Australia n Rugby Union team Brumbies.[26] In 2022, the company became the new sleeve sponsor for English football club Manchester United.[27] In May 2023, the company signed a multi-year partnership with Scuderia Ferrari starting from the 2023 Miami Grand Prix onwards.[28][29]

See also

  • List of IT consulting firms

References

  1. ↑ 1.0 1.1 "Veralto Set to Join S&P 500; Vestis to Join S&P MidCap 400; Others to Join S&P SmallCap 600". S&P. September 28, 2023. https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20230928-1466640/1466640_554-k-dhr-armk.pdf. 
  2. ↑ 2.0 2.1 "DXC Technology Annual Report for fiscal year ending March 31, 2022". U.S. Securities and Exchange Commission. pp. 7, 62–63. https://www.sec.gov/ix?doc=/Archives/edgar/data/1688568/000168856822000027/dxc-20220331.htm. 
  3. ↑ "DXC Executive Leadership". https://dxc.com/us/en/about-us/leadership-and-governance. 
  4. ↑ "DXC Technology - Company profile". http://fortune.com/fortune500/dxc-technology/. 
  5. ↑ Gregg, Aaron (2017-04-09). "This IT firm got rid of its federal work during sequestration. Now it wants back in.". https://www.washingtonpost.com/business/capitalbusiness/this-it-firm-got-rid-of-its-federal-work-during-sequestration-now-it-wants-back-in/2017/04/09/e43abbf0-1bc1-11e7-9887-1a5314b56a08_story.html. 
  6. ↑ Kolenc, Vic (27 Apr 2017). "HP, Juarez sites join new firm: DXC Technology formed by merger of companies". El Paso Times. https://www.elpasotimes.com/story/money/business/2017/04/25/el-paso-information-technology-merger-employment/100765186/. 
  7. ↑ "Newly-formed DXC to reskill its staff, operations". India Times. 2017-04-05. https://economictimes.indiatimes.com/small-biz/startups/newly-formed-dxc-to-reskill-its-staff-operations/articleshow/58022277.cms. 
  8. ↑ "7 top IT firms to lay off 56,000 this year, new tech and Trump's policies blamed". Hindustan Times. 2017-07-19. https://www.hindustantimes.com/business-news/seven-top-it-firms-to-lay-off-56-000-this-year-new-tech-and-trump-s-policies-blamed/story-nDPfhZ3taX0WkE3sJotVwM.html. 
  9. ↑ "As DXC cuts jobs, India amongst the most hit". India Times. 2019-06-13. https://timesofindia.indiatimes.com/business/india-business/as-dxc-cuts-jobs-india-amongst-the-most-hit/articleshow/69571936.cms. 
  10. ↑ "2018 Mergers and Acquisitions Redefine IT Market: This Is IT". Blommberg Government. 2019-03-06. https://about.bgov.com/news/2018-mergers-acquisitions-redefine-market/. 
  11. ↑ Johnson, O’Ryan (September 11, 2019). "DXC Picks Former Accenture Executive As New CEO As Mike Lawrie Retires". CRN. https://www.crn.com/news/channel-programs/DXC-Picks-Former-Accenture-Executive-As-New-CEO. 
  12. ↑ "DXC Technology rejects $10 billion Atos bid, and Atos walks away". https://www.consultancy.eu/news/5655/dxc-technology-rejects-10-billion-atos-bid. 
  13. ↑ "DXC Technology Statement". https://www.dxc.com/us/en/about-us/newsroom/press-releases/02012021. 
  14. ↑ "Atos ends talks with DXC for a potential acquisition". https://economictimes.indiatimes.com/tech/information-tech/atos-ends-talks-with-dxc-for-a-potential-acquisition/articleshow/80654226.cms. 
  15. ↑ "TCS may lose spot as world’s third largest IT services firm". https://www.thehindubusinessline.com/info-tech/tcs-may-lose-spot-as-worlds-third-largest-it-services-firm/article33559923.ece. 
  16. ↑ Cordell, Carten (28 May 2021). "DXC hopes for brighter fiscal year after selling off divisions, cutting costs". American City Business Journals. https://www.bizjournals.com/washington/news/2021/05/28/dxc-continues-to-improve-following-divestitures.html. 
  17. ↑ Chowdhary, Sudhir (10 Nov 2021). "We have a relentless focus on innovation: Nachiket Sukhtankar, MD, DXC Technology". Financial Express. https://www.financialexpress.com/industry/technology/interview-nachiket-sukhtankar-managing-director-india-dxc-technology-we-have-a-relentless-focus-on-innovation/2365874/. 
  18. ↑ Manning, Margie (9 Nov 2017). "What DXC paid to buy Tribridge". American City Business Journals. https://www.bizjournals.com/tampabay/news/2017/11/09/what-dxc-paid-to-buy-tribridge.html. 
  19. ↑ Carollo, Malena (6 July 2017). "Va. Tech Firm Dxc Buys Tribridge". Tampa Bay Times. https://www.tampabay.com/news/business/corporate/tampas-tribridge-acquired-by-virginia-technology-company/2329396/. 
  20. ↑ "DXC (DXC) Down 1.9% Since Last Earnings Report: Can It Rebound?". Nasdaq. 2018-12-06. https://www.nasdaq.com/article/dxc-dxc-down-19-since-last-earnings-report-can-it-rebound-cm1065335. 
  21. ↑ "DXC Technology Completes Acquisition of Leading Digital Innovator Luxoft". 14 June 2023. https://www.businesswire.com/news/home/20190614005254/en/DXC-Technology-Completes-Acquisition-of-Leading-Digital-Innovator-Luxoft. 
  22. ↑ Corner, Stuart (2019-07-30). "DXC teams with Autism NZ for skills training" (in en). https://www.computerworld.com/article/3478555/dxc-teams-with-autism-nz-for-skills-training.html. 
  23. ↑ Paredes, Divina (2018-12-09). "DXC launches program to help people on the autism spectrum build ICT careers" (in en). https://www.cio.com/article/3509119/dxc-launches-programme-to-help-people-on-the-autism-spectrum-build-ict-careers.html. 
  24. ↑ "TEAM PENSKE PARTNERS". Team Penske. https://www.teampenske.com/sponsors/. 
  25. ↑ "DXC Technology Named Title Sponsor of Texas Motor Speedway Race". https://www.indycar.com/News/2018/02/02-28-Texas-Motor-Speedway-DXC-Technology-600-announcement. 
  26. ↑ "Our Partners - Brumbies Rugby". Brumbies Rugby. https://www.brumbies.com.au/partners/. 
  27. ↑ Mukherjee, Supantha (2022-07-06). "DXC to become Man United's sleeve sponsor, manage digital presence" (in en). Reuters. https://www.reuters.com/lifestyle/sports/dxc-become-man-uniteds-sleeve-sponsor-manage-digital-presence-2022-07-06/. 
  28. ↑ "Driven by Innovation: DXC Technology Announces Partnership with Scuderia Ferrari" (in en). 2023-05-03. https://www.asiaone.com/business/driven-innovation-dxc-technology-announces-partnership-scuderia-ferrari. 
  29. ↑ "DXC Technology adds Ferrari to sponsorship portfolio" (in en-US). 2023-05-03. https://www.sportbusiness.com/news/dxc-technology-adds-ferrari-to-sponsorship-portfolio/. 

External links



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