DXC Technology

DXC Technology is an American multinational corporation that provides B2B IT services.[2]

DXC Technology Company
Public
Traded as
  • NYSE: DXC
  • S&P 500 component
  • Russell 1000 component
ISINUS23355L1061 
IndustryIT services, IT consulting
PredecessorsComputer Sciences Corporation
Hewlett Packard Enterprise
Electronic Data Systems
FoundedApril 3, 2017 (2017-04-03)
Headquarters
Tysons, Virginia
,
United States
Area served
Worldwide
Key people
Mike Salvino
(President and CEO)
Services
Revenue US$20.75 billion (2019)[1]
US$1.72 billion (2019)[1]
US$1.25 billion (2019)[1]
Total assets US$29.50 billion (2019)[1]
Total equity US$11.73 billion (2019)[1]
Number of employees
138,000 (March 2020)
Subsidiaries
Websitewww.dxc.technology
Footnotes / references
[1]

History

Creation

DXC Technology was founded in 2017[3] as the result of the spin-off of Hewlett Packard Enterprise's Enterprise Service segment[4] and its merger with Computer Sciences Corporation (CSC). 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 HPE did not include two parts of the Enterprise Service 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 1/3rd of its workforce) in India, the company is restructuring its workforce to meet its new revenue profile.[7]

In 2017, DXC split off its public sector segment to create a new company, Perspecta Inc.[8]

In September 2019, American businessman Mike Salvino was appointed president and CEO.[9]

Acquisitions

In 2017, the company completed its first acquisition, buying Tribridge, a provider of Microsoft Dynamics 365 solutions.[10]

In 2018, it announced several additional acquisitions, including Molina Medicaid Solutions (previously part of Molina Healthcare), Argodesign and two ServiceNow partners, BusinessNow and TESM.[11]

In January 2019, DXC Technology acquired Luxoft . According to the information from SEC database, DXC Technology now owns 83% of Luxoft shares. The eventual close of the deal was in June 2019.[12]

Programmes and sponsorships

Dandelion Program
Main article: Dandelion Program

Piloted in Adelaide, Australia, in 2014; the DXC Dandelion Program has grown to over 100 employees in Australia,[13] working with more than 240 organizations in 71 countries to acquire sustainable employment for individuals with autism.[14]

Sport

The company sponsors Team Penske[15] with 2016 Series Champion and 2019 Indianapolis 500 winner Simon Pagenaud, and in 2018 became title sponsor of IndyCar Series race DXC Technology 600.[16] DXC is also a partner of Australian Rugby Union team Brumbies.[17]

Federal taxes

In December 2019, CNBC listed DXC Technology along with 378 additional Fortune 500 companies that "paid an effective federal tax rate of 0% or less" as a result of the Tax Cuts and Jobs Act of 2017.[18]

See also

References
  1. "DXC Technology Annual Report 2019" (PDF). DXC Technology. Retrieved April 13, 2018.
  2. "DXC Technology - Company profile". Fortune. Retrieved March 17, 2019.
  3. "DXC Technology - Company profile". Forbes. Retrieved March 17, 2019.
  4. Cornell, Joe (April 14, 2017). "Hewlett Packard Enterprise Completes Spin-Merger To Form DXC Technology". Forbes. Retrieved March 17, 2019.
  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. Peter Bendor-Samuel. "DXC Technology Changes CEO". Retrieved October 8, 2019.
  10. "Channel Beat: DXC Buys Tribridge, Symantec Acquires Fireglass And Cisco's Channel Chief Discusses The Intuitive Network". CRN. July 17, 2017. Retrieved March 17, 2019.
  11. "DXC (DXC) Down 1.9% Since Last Earnings Report: Can It Rebound?". Nasdaq. December 6, 2018. Retrieved March 17, 2019.
  12. "DXC Technology Completes Acquisition Leading Digital Innovator". businesswire. June 14, 2019.
  13. "DXC teams with Autism NZ for skills training", Computer World; 30 July 2019.
  14. "DXC launches programme to help people on the autism spectrum build ICT careers", CIO; 9 December 2018.
  15. "TEAM PENSKE PARTNERS". Team Penske. Retrieved January 9, 2019.
  16. "DXC Technology Named Title Sponsor of Texas Motor Speedway Race". indycar.com. Retrieved January 9, 2019.
  17. "Our Partners - Brumbies Rugby". Brumbies Rugby. Archived from the original on July 9, 2017. Retrieved January 9, 2019.
  18. Pound, Jesse (December 16, 2019). "These 91 companies paid no federal taxes in 2018". CNBC. Retrieved February 11, 2020.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.