U.S. DXC Tech agrees to purchase Switzerland’s Luxoft in $2 bln deal

U.S.-based DXC Technology, an end-to-end information technology (IT) services and solutions company, has agreed to purchase Swiss custom software development company Luxoft Holding Inc.

Under the terms of the agreement, all of the issued and outstanding Luxoft Class A and Class B ordinary shares will receive $59 per share in cash, representing a total equity value of about $2 billion.

Both companies will offer a distinctive customer value proposition for end-to-end digital transformation by merging Luxoft’s digital engineering capabilities with DXC’s expertise in IT upgrade and integration.

The transaction is expected to advance DXC Technology’s digital development and scale-out strategy as well as widen the company’s access to key digital talent.