DXC Acquires Luxoft for $2 Billion; Deal Bolsters DXC’s Digital Portfolio; Shares a Sizable Discount
DXC Technology announced that it will acquire global IT services provider Luxoft for $2 billion. The purchase price, in which Luxoft shareholders will receive $59 per share, represents an 86% premium to Friday’s closing price, although it’s only a 48% premium to Luxoft’s average closing price over the last 90 days. Based on fiscal 2019 consensus estimates, the deal implies an adjusted price/earnings ratio of approximately 24.6 times and a price/sales ratio of 2.2 times. Based on IT services mult...DXC Technology is an end-to-end IT services company. The company provides a range of information technology services and solutions primarily in North America, Europe, Asia, and Australia. The company operates through two segments: Global Business Services, which provides technology solutions that help the company's clients address main business challenges and improve digital transformations tailored to each client's industry and objectives; and Global Infrastructure Services, which provides a portfolio of offerings that deliver predictable outcomes and measurable results, while reducing business risk and operational costs for clients.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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