DXC Technology, an IT services vendor currently running a process to sell its insurance software business for over $2 billion, is being courted by buyout firms Apollo Global and Kyndryl Holdings. The two companies are in talks about a joint bid for DXC, valued between $22 and $25 per share. Raul Fernandez, who took on the role of CEO in February, may choose to remain independent under his leadership.
According to sources familiar with the matter, the two companies have discussed an acquisition offer for DXC. DXC has a market value of $3 billion and it is evident that Apollo Global and Kyndryl Holdings are positioning themselves for a potential acquisition of the company. However, discussions about the terms of the bid are ongoing and the outcome could have significant implications for all parties involved.
DXC’s decision on whether to sell its insurance software business or remain independent under new leadership adds further complexity to the situation. It will be interesting to see how it ultimately unfolds as the situation continues to develop. Neither DXC nor Kyndryl have responded to requests for comment at this time and Apollo has declined to comment on the potential joint bid.
