DXC Technology

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

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

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. ^ a b c d e f "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. ^ a b 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.

External links