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DXC Technology acquires Luxoft for $2 billion

DXC Technology on Monday, Jan 7, said that they would buy Luxoft Holding Inc. – a software development company for $2 billion.

DXC Technology is a B2B multinational corporation that specializes in delivering end-to-end information technology services and digital transformative solutions for large and mid-scale global organizations formed and launched in April 2017. DXC has been expanding its digital offerings to the financial and automotive sectors.

With the said expansion, DXC Technology recently acquired the software development company Luxoft. Luxoft creates software that facilitates determining a customer’s creditworthiness for Deutsche Bank. It provides digital strategy consulting and engineering services for companies across North America, Europe, and the Asia Pacific region.

The acquisition will accelerate DXC’s digital growth and scale-out strategy, and will also broaden access to digital talent.

Mike Lawrie, DXC’s Technology chairman, president, and CEO said that Luxoft and DXC are highly complementary, and their shared vision of digital transformation makes his strategic combination a great fit for both organizations, as well as enormously beneficial for their clients.

Dmitry Loschinin, the CEO of Luxoft, will run the business unit and will be reporting to Lawrie. Loschinin said that Luxoft will maintain its brand and will operate as “A DXC Technology Company”.

The acquisition is around $2 billion and is expected to close by June 2019.

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