The days of HPE Enterpise Services and CSC are over, with DXC Technology emerging from the successful merger of the two businesses.
Kicking off business with CEO Mike Lawrie ringing the New York Stock Exchange opening bell, the new company is already boasting annual revenues of $25 billion and nearly 6,000 enterprise and public sector clients – although its early days yet and those numbers leverage the historic assets of HPE Services and CSC.
The company has certainly entered the market with aplomb, expecting first-year synergies of approximately $1 billion post-close, with a run rate of $1.5 billion by the end of year one.
The company is looking to grab those impressive first year figures by positioning itself as “the world’s leading independent, end-to-end IT services company”, delivering everything from cloud and application services, to security and mobility. A key part of the new company’s strategy will be its global partner network, which counts among others the likes of Amazon Web Services, IBM, Microsoft and Oracle.
Mike Lawrie and DXC Technology execs celebrate at the opening bell.
“Technology is transforming business and industry at an extraordinary pace, and DXC Technology will help clients to thrive on change,” said Mike Lawrie, DXC Technology chairman, president and chief executive officer. “Our goal is to produce greater value for clients, partners and shareholders, along with compelling career opportunities for our people.
“Together with our partners, we help clients harness the power of innovation to create new business outcomes,” Lawrie continued.
“Our technology independence, extensive partner network, and world-class talent are core differentiators. We begin the new chapter in our journey knowing that collectively we have met the challenges of innovation many times before, and with a clear and confident vision for navigating the future.”
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The UK will be one of the six global regions which the new company will operate in, with Nick Wilson, senior vice president and UK general manager, saying: “In the UK, Ireland and Israel, DXC Technology proudly serves a wide portfolio of clients, including some of the world’s largest banks and insurers, manufacturers and public sector organisations at the heart of delivering national infrastructure, defence and security.”
“Our scale, independence and focus on leading digital transformation will produce new beneficial outcomes for our clients, and presents new career development opportunities for our people. We look forward to guiding our clients on their digital transformation journeys by helping them innovate and thrive on change.”
