HPE’s $13.9bn acquisition of EDS finally unwound with ‘spin-merge’ with CSC,Business Software,Strategy,Software ,CSC,Cloud Computing,Hewlett-Packard,Meg Whitman,Mike Lawrie
DXC Technologies, the services company formed from the merger of CSC and HPE Enterprise Services , has formally made its debut today. The new company will have annual revenues of about $24bn, generated from just under 6,000 clients in more than 70 countries.
The company started trading on the New York Stock Exchange this morning under the ticker symbol ‘DXC’.
Announced in May 2016, HPE CEO Meg Whitman claimed that the ‘spin-merge’ with CSC would “unlock value” for HPE shareholders, who will own 50 per cent of the new company.
Former CSC CEO Mike Lawrie, best known in the UK for his leadership of software firm Misys, will serve as chairman, president and CEO of DXC. Prior to Misys, Lawrie had also been CEO of customer relationship management pioneer Siebel Systems , before it was acquired by software giant Oracle.
