DXC Technologies to Acquire IT Specialist Luxoft
IT consultancy DXC Technologies announced on Monday, January 7th, its intention to buy software development specialist Luxoft for close to $2 billion. With the acquisition, DXC hopes to expand its service offer in the financial and automotive sector.
The companies said shareholders representing about 83 percent of Luxoft’s total voting power have endorsed the deal, resulting in obtaining the requisite Luxoft shareholder approval.
Luxoft will maintain its brand and will continue to be led by its Chief Executive Officer Dmitry Loschinin.
The deal, facilitated by BofA Merril Lynch and Guggenheim Securities, acting as advisors to DXC and Credit Suisse advising Luxoft, is expected to close by June 2019.