DXC Technology

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

DXC Technology Company
TypePublic
Traded as
Industry
Predecessors
  • Computer Sciences Corporation
  • Hewlett Packard Enterprise
  • Electronic Data Systems
FoundedApril 3, 2017 (2017-04-03)
Headquarters
Ashburn, Virginia
,
U.S.[1]
Area served
Worldwide
Key people
  • Mike Salvino
  • (chairman, president & CEO)[2]
Revenue US$16.27 billion (2022)
US$139 million (2022)
US$718 million (2022)
Total assets US$20.14 billion (2022)
Total equity US$5.05 billion (2022)
Number of employees
130,000 (March 2022)
Subsidiaries
  • Molina Medicaid Solutions
  • Luxoft 83%
Websitewww.dxc.com
Footnotes / references
Financials as of March 31, 2022[1]

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
  • List of IT consulting firms

References
  1. "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. "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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