DXC Technology, global IT solutions provider and one of the leaders in the industry, and BVI-incorporated Luxoft Holding, Inc. announced a definitive agreement according to which DXC will acquire Luxoft. Under the terms of the agreement, all of the issued and outstanding ordinary shares of the BVI holding company will get US$59.00 per share in cash, that makes total equity value of approximately US$2 billion.
With Luxoft’s digital engineering capabilities and DXC’s expertise in IT modernization and integration, the companies will offer differentiated customer value proposition for end-to-end digital transformation. The combined company will be able to provide end-to-end digital capabilities for the global financial services industry; new services in insurance, where DXC is industry leader; offerings for the automotive industry, combining Luxoft’s knowledge and experience in car systems with DXC’s capabilities in cloud and security; and industry-leading services in healthcare and life sciences. Luxoft has clients in all regions of the world, particularly in Europe. In the automotive industry the combined company will serve more than twenty manufacturers and OEMs in North America, Europe and the Asia Pacific region.
Luxoft will keep its brand and work as “A DXC Technology Company.” It will continue to be led by the company’s current president and CEO Dmitry Loschinin. The transaction is expected to be closed by June 2019, and is subject to customary conditions and regulatory approvals.
