DXC Technology has announced the completion of its acquisition of Luxoft Holding, the global digital strategy and software engineering firm.
DXC had announced a definitive agreement to acquire Luxoft on Jan. 7, 2019, and received final regulatory approval on June 11, 2019.
The acquisition builds on DXC’s unique value proposition as an end-to-end, mainstream IT and digital services market leader, and strengthens the company’s ability to design and deploy transformative digital solutions for clients at scale. The addition of Luxoft will bring clients new capabilities in digital engineering, additional depth in key verticals and an expanded portfolio of digital offerings.
“With Luxoft, DXC will cover the full spectrum of business-driven digital initiatives, from modernizing client legacy IT systems to delivering transformational digital solutions at scale,” said Mike Lawrie, DXC’s chairman, president and CEO. “Luxoft’s proven success for global clients creates new value and benefits for all DXC stakeholders. I want to welcome the Luxoft team to the DXC family.”
As announced previously, Luxoft will continue to be led by Dmitry Loschinin, who will report to Lawrie. Luxoft has a 13,000-person workforce that provides digital strategy consulting and software engineering services for companies across North America, Europe and the Asia Pacific region. It will maintain its brand and operate as “A DXC Technology Company.” Luxoft brings deep expertise in key verticals, including Automotive and Financial Services, and clients in these areas are expected to benefit immediately.
Loschinin said. “Going forward, it’s the best of both worlds: DXC provides the scale, resources and market presence, while Luxoft brings differentiated capabilities and new digital talent. We expect our shared vision to create new market opportunities, deliver game-changing innovations and drive DXC’s growth.”