Published on 19 Jun 2024 on Zacks · via Yahoo Finance
Why Is DXC Technology (DXC) on the Acquisition Radar Again? (Revised)
DXC Technology Company’s DXC shares soared 11.5% on Monday as the IT services and solutions provider garnered attention as a potential acquisition target. Citing people familiar with the matter, Reuters on Monday revealed that Apollo Global Management and Kyndryl Holdings, Inc. KD are considering a joint bid for DXC.
Apollo Global Management is an asset management firm, while Kyndryl Holdings is an IT services provider that was created from the spin-off of International Business Machines Corporation’s IBM infrastructure services business in 2021. Upon spin-off, International Business Machines held a 19.9% stake in Kyndryl Holdings, which it later sold in November 2022.