DXC Technology buys Luxoft. The amount of the transaction is $2 billion
The management of the American company DXC Technology announced the takeover of Luxoft on January 7. The amount of the transaction will be about $2 billion. It is expected that the transaction will be closed by June 2019.
According to representatives of DXC Technology, the purchase of Luxoft will allow the company to accelerate growth and scaling, as well as expand access to engineering talents. “Luxoft and DXC Technology complement each other, and our shared vision of digital transformation makes this combination excellent for both organizations and also beneficial for our customers,” said Mike Lawrie, Chief Executive Officer of DXC Technology.
The buyout will take place at an estimate of $59 per share, which is total about $2 billion. The official statement says that all funds will be paid in cash.
Luxoft has a large representative office in Ukraine. According to DOU, the company has almost 4,000 employees in Ukraine, offices in 3 cities of the country, which makes it one of the largest IT companies in Ukraine, the smaller number of employees can be found only in EPAM and SoftServe. In total, the company has more than 13,000 employees who create products for nearly three hundred customers in 22 countries around the world. The main activities of the company are automotive, financial services, healthcare, telecommunications and other industries.