• Computer & Technology
  • SEO
  • Technology
  • About Us
    • Contact Us
    • Advertise Here
    • Disclosure Policy
    • Sitemap
Sidebar

lp

Recent Posts

  • Is Lam Research (LRCX) Stock Outpacing Its Computer and Technology Peers This Year?
  • Pc Definition & That means
  • Rapinoe Fuses Politics, Pay And Tech With World Cup Win
  • Is Maxar Technologies (MAXR) Stock Outpacing Its Computer and Technology Peers This Year?
  • How Can I Learn Extra About Computer systems?

Archives

Categories

March 2021
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
293031  
« Feb    

TL

pixliv Digitally first class

Theme by The WP Club . Proudly powered by WordPress

  • Computer & Technology

Atos abandons plans to scoop up DXC Technology

February 2, 2021
evan
0 Comments
dxc-technology-wall.png

Image: DXC Technology

Digital transformation powerhouse Atos SE has walked away from its proposal to purchase competitor DXC Technology.

On January 7, Atos confirmed the rumours that it had approached DXC “concerning a potential friendly transaction between the two groups in order to create a Digital Services Leader benefitting from global scale, talent, and innovation”.

At the time, Atos said there could be no certainty that there would in fact be any agreement or transaction resulting from the move.

On Tuesday, it was announced the deal would be no longer.

“Further to the statement issued by the company on January 7, 2021, the board of directors of Atos has unanimously determined not to pursue a potential transaction with DXC Technology,” Atos said in a statement.

DXC, meanwhile, said prior to receiving an “unsolicited, preliminary, and non-binding proposal” from the company, it had no knowledge of any interest from Atos.

The company said it declined the offer.

See also: Hearing Australia strikes digital transformation deal with DXC

“Consistent with its fiduciary duties, the DXC board of directors carefully evaluated the proposal, together with its financial and legal advisors. The offer was determined to be inadequate and lacking certainty in light of the value the board believes DXC can create on a standalone basis by executing our transformation journey,” DXC said.

“After sharing certain high-level information in order to help Atos understand why the board believes the proposal undervalued DXC, Atos and DXC today agreed to discontinue further discussions.”

DXC Technology was formed in April 2017 as the result of the merger of Computer Sciences Corp (CSC) and the Enterprise Services arm of Hewlett Packard Enterprise (HPE).

At the closure of the deal, the IT services giant was valued at $26 billion and boasted nearly 6,000 clients in more than 70 countries, with the combined companies claiming only a 15% overlap in accounts at the time.

For the second half of its 2021 fiscal year, DXC reported a net loss of $445 million, comprised of a $199 million loss in Q1 and $246 million in Q2. This was on revenue of $9 billion for the six month period.

Non-GAAP net income was $220 million and net cash provided by operating activities was $591 million. 

DXC is due to release its third quarter results on Thursday.

SEE ALSO

abandons Atos DXC plans scoop technology

« Switch Information Between Your Computer & Android System
Test Form 3a »
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

Non-necessary

Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.

SAVE & ACCEPT