Apollo Global and IT services provider Kyndryl Holdings, formerly part of IBM, are currently in discussions about a joint bid for DXC Technology. According to sources familiar with the matter, the two companies have been in talks to acquire DXC at a valuation of between $22 and $25 per share.
DXC is also exploring the sale of its insurance software business for over $2 billion. However, the company may choose to remain independent under the leadership of newly appointed CEO Raul Fernandez. With a market value of $3 billion, DXC has not yet responded to requests for comment on the potential bid from Apollo and Kyndryl.
Sources who provided this information requested anonymity due to the sensitive nature of the matter. Both DXC and Kyndryl have not yet provided any official statements, while Apollo has declined to comment on the situation. It remains to be seen whether these discussions will result in an official bid and if so, what impact it will have on DXC’s future plans.
