BrazilDXC Technology acquires digital consultancy Luxoft in deal worth $2 billion
Multinational IT firm DXC Technology has acquired digital consultancy Luxoft in a deal worth $2 billion – adding Asian offices in China, Malaysia, Vietnam and Singapore.
With revenues now in excess of $24 billion and a global presence spanning 70-plus countries, DXC Technology was formed out of the 2017 merger of CSC and the Enterprise Services business of Hewlett Packard Enterprise. Today, the company boasts a headcount of more than 130,000 employees worldwide, serving 6,000 clients on digital transformations and IT-related services, including world’s largest enterprises and government agencies.
Continuing with its growth, DXC has announced the acquisition of Swiss-headquartered global digital consulting firm Luxoft in a deal worth approximately $2 billion. While Luxoft will continue to operate under its name – as ‘A DXC Technology Company’ – the purchase will add a workforce of around 13,000 digitally skilled professionals to DXC’s capabilities, as well as outlets in 21 countries, including China, Singapore, Vietnam and Malaysia.
“Luxoft and DXC are highly complementary, and our shared vision of digital transformation makes this strategic combination a great fit for both organisations,” said DXC CEO Mike Lawrie, a former Tokyo-based APAC general manager for IBM’s business operations. “Luxoft has a proven track record and expertise in producing measurable business outcomes at-scale for global clients across key industries, including automotive and financial services.”
Founded in 2000 and led by President and CEO Dmitry Loschinin, who will continue to hold the post, Luxoft has since its inception grown to pull in global annual revenues of more than $900 million via end-to-end digital lines in consulting, strategy and engineering, with specialised capabilities in areas such as analytics, UX/UI, IoT and blockchain and a focus on the automotive, healthcare, life sciences, financial services and telecom sectors among others.
“Our success in recent years has been led by our talent and ability to design, develop and deliver truly innovative digital solutions tailored to client business needs,” said Loschinin. “Aligning with DXC presents an exciting opportunity to unlock new value for our people, clients and partners. We will gain the scale, resources and market presence to better serve and compete, and to more rapidly realise our vision.”
DXC already boasts a significant presence in Asia, with a 40 year legacy and more than 50 offices and 60,000 employees across twelve countries on the continent – including its regional hub in Singapore which features the firm’s Digital Innovation Lab, launched late last year with former long-term Accenture Managing Partner Andrew Clarke serving as DXC Asia General Manager for digital. In December, the firm also established a new Analytics Migration Factory in the Philippines, adding to its existing one in Bangalore.
