Exclusive: Apollo and Kyndryl to Acquire DXC Technology, According to Sources

DXC Technology, a leading provider of IT services, is exploring the possibility of being acquired by private equity firm Apollo Global and IT services provider Kyndryl Holdings, according to sources familiar with the matter. The companies are considering an acquisition offer between $22 and $25 per share for DXC, which saw its shares rise 11% to $18.45 in New York trading on Monday.

DXC offers a range of services, including analytics, engineering, cybersecurity, cloud infrastructure, and outsourcing services. However, the company’s revenue has been affected by economic concerns and a decrease in corporate spending, causing its shares to drop by over a third in the past year. To address this slowdown, DXC has implemented cost-cutting measures and restructuring initiatives.

Kyndryl Holdings is known for its infrastructure IT services and has a market value of $6 billion. Meanwhile, Apollo Global is one of the largest investors in private equity and corporate credit assets with $671 billion under management. Discussions between the three companies are ongoing as they continue to explore potential acquisition options for DXC Technology.

By Sophia Gonzalez

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