Loudoun’s DXC Technology confirms takeover offer

DXC Technology, one of the largest employers in the D.C. region, confirms it has received a takeover offer from an unnamed party, and says it is in preliminary discussions and information sharing.

It added that to date, no formal offer has been received.

While DXC did not identify the source of the takeover offer, Bloomberg News, citing people familiar with the matter, reports the offer is from Hong Kong-based investment group Baring Private Equity Asia.

“There are no assurances that any proposal will be received or determined to be adequate by the Board of Directors,” DXC said in a statement. “The company does not intend to comment further on market rumors or developments unless it deems additional disclosure to be appropriate or required.”

DXC has been both a target of takeovers, and an acquisition company itself. Last year, the company rejected an unsolicited takeover bid by French IT firm Atos SE, reportedly valued at $10 billion, calling the offer inadequate.

In 2019, DXC acquired Swiss-based technology firm Luxoft Holding Inc. for $2 billion.

DXC Technology, which recently relocated its headquarters from Tysons to One Loudoun, was formed by the merger of Computer Sciences Corp. and Hewlett-Packard’s enterprise services business in 2017.

It has 15,000 employees in the D.C. region, and more than 134,000 worldwide, with $16 billion in annual revenue.

Jeff Clabaugh

Jeff Clabaugh has spent 20 years covering the Washington region's economy and financial markets for WTOP as part of a partnership with the Washington Business Journal, and officially joined the WTOP newsroom staff in January 2016.

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