DXC pays $2 billion for digital consulting and engineering company founded in Russia
DXC Technology is expanding its digital transformation and engineering capabilities through the acquisition of Switzerland-based Luxoff, a consulting firm with deep expertise in digital consulting for several key industry segments.
The Lowdown: DXC Technology, a company formed in 2017 through the merger of HP Services and Computer Science Corporation (CSC), is pursuing a strategy of enhanced enterprise-level digital transformation services. Acquiring Luxoft provides engineering capacity and access to key customer segments to expand its services business.
The Details: Luxoft is a Russian company headquartered in Switzerland. In 2018, it had 13,000 employees and generated $911 million in revenue. According to DXC, Luxoft posted double-digit growth in the past three years. Operating in Europe, North America, and Asia-Pacific, Luxoft has experience supporting digital transformation and technology development in the health care, automotive, financial services, and retail segments.
The Buzz: “Luxoft and DXC are highly complementary, and our shared vision of digital transformation makes this strategic combination a great fit for both organizations — as well as enormously beneficial for our clients,” said Mike Lawrie, chairman, president, and CEO of DXC Technology. “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. The addition of Luxoft accelerates DXC’s growth strategy as we equip the company to meet the digital requirements of our clients today and in the future.”