"DXC, which is also an IT services vendor, is separately running a process to sell its insurance software business for more than US$2 billion ($3 billion), and may opt to remain an independent company under Raul Fernandez, who was appointed chief executive in February, the sources added."
https://www.itnews.com.au/news/apollo-kyndryl-in-bid-for-dxc-technology-608665
@ @2vvi+1sXOqTu0
If you left DXC for good, what the duck are you still doing here? Go on with your life and stop insulting people here.!!!
Who gives a flying duck ? Not me I quit almost 2 years ago and the people that are staying are either close to retirement , don’t really want to work too hard anymore or just stupid people
@2lop+1sXOqTu0 You guys keep forgetting to add in insurance. The offer is to buy everything but insurance for $22-$25. The insurance buisness itself would be sold for $2-$3 Billion which is roughly equivalent to $11 a share. So if you add it all up you get to $33-$36.
This offer doesn't make sense, most shareholders bought shares at $25-$35 range so they need to get more than that to accept.
You wouldn't sell your house for a massive amount you paid for it.
Kyndryl get real you need to up the offer.
This offer could make sense.
Apollo and Kyndryl have discussed an acquisition offer for DXC of between US$22 and US$25 per share, one of the sources said.
Reality check:
DXC is at $18.34 on June 11, 2024 and was last at $25 on July 24, 2023.
https://www.itnews.com.au/news/apollo-kyndryl-in-bid-for-dxc-technology-608665h
@1arg+1sAiLti6 Called it on May 19
We are at the point, where we need to "Defend the Castle and prepare for a long siege."
We need to protect our anchor clients in INSURANCE and beyond. This way we will have something of value that we can use to barter our way into our next phase. With key client relationships, DXC could be an attractive merger partner or takeover target.
So get ready. This is going to be a war of attrition as similar IT companies (looking at you, Kyndryl), fight for our clients while they reduce costs through AI and labor arbitrage.
Please do the prevention of work place harassment and discrimination course that has been auto added to your learning curriculum. These type of courses lessens emissions and reduce global warming.
BTW I can also see DXC selling off Australia... lock stock and barrel.
Which is probably why this story comes from down under...
Insurance is a good chunk of DXC to own tbh.
Its a sizeable piece, a profitable piece and there is massive customer lock in.
If you listened to one of the recent town halls (don't ask me which one) Raul spent some time fawning over it saying just how much of the insurance vertical DXC has, which is probably a fair indicator that what this article says about Insurance is probably true.
I had previously stated on here that it was a good strong possibility for a spin off. Its certainly big enough to stand on its own two feet.
If they spin it to a separate company it will go the way of all of the others they spun out (and the same for how IBM did Kyndryl). Stand it up as a standalone piece, then sell it ready packaged - because nobody wants to buy just some random ill defined mess and restructure it themselves. Some lucky DXC exec will become CEO of the new company but only until the new buyers integrate their purchase and then he'll be paid off.
DXC will get a few billion by doing it and then promptly waste that money rather than use it to innovate.... just like all the times before.
@1tpp+1sXOqTu0 DXC market cap (after sale news) is $3.3bn. If insurance IS worth $2bn then that's 60% of DXCs value. Kyndryl would only buy GIS which is a portion of the remaining 40%. That's why insurance is important.GIS is a red light special.
Did you all miss the memo that Kyndryl wants to buy the remainder of the buisness? Who cares about insurance.
This has been coming for a while. The execs, especially the sycophants in APAC have been milking their last hurrah for some time. Plenty of propaganda. Living high of the hog. Lies on pay rises, WFR so there is no real capability left, putting folks on PIPs to avoid payouts, and making incumbents apply for their own jobs. Seen it all before. Classic takeover behaviour as will be the musical chairs as the thicket for position and the thieves will fall out of the nest, supposedly on the back of “spreadsheet” success. Not a lot worth buying really. Customers, who are they ?
If it isn't profitable who would buy it.where else are they going to get $2bn to return to shareholdsand improve share price. Mgmt know well is runnin dry. They ki-led the golden goose time to cut and run.
They would keep it if it’s profitable and they can continue with the Ponzi scheme.
Get with the program
What’s Halbard got to do with it?
Insurance sale nothing to do with Kyndryl and if DXC can get $2bn for it why the f#*k would they keep it as a separate company. Goodbye DXC.
Why do you think Halbard is so happy?
Greedy ba----ds won’t sell!!
Mikey 1 had offers
Mikey 2 had offers
Raul has an offer
Mikey 1 & 2 are set for life
Finchy & Co are set for life
Notice the patterns here!
This is a Ponzi scheme for execs to rinse the company.
Does Kendryl give pay rises?
I suspect insurance is retained and made it own seperate company.