DXC Technology will be the name of the new company formed by the proposed merger of CSC (NYSE: CSC) and the Enterprise Services business of Hewlett Packard Enterprise (NYSE: HPE) when the transaction closes, it was announced today. The full launch of the new brand will take place worldwide with the debut of the new company, which is expected on April 3, 2017.
The strategic combination of the two complementary businesses, which was announced at the end of May 2016, will create the world’s leading independent, end-to-end IT services company. The new company is expected to have $26 billion in annual revenues and nearly 6,000 clients in over 70 countries. Subject to final approvals, DXC Technology intends to list on the New York Stock Exchange under the ticker symbol DXC.
“With a mission of leading clients on their digital transformation journeys, DXC Technology will be recognized globally as a force multiplier, enabling clients to seize the opportunities presented by today’s rapidly changing technologies,” said CSC chairman, president and CEO, Mike Lawrie, who will serve as DXC Technology chairman, president and CEO upon the close of the proposed merger. “The DXC Technology brand will be built on a foundation of trust and transformation, and a relentless drive to help clients thrive on change. We will focus on producing greater value for clients, partners and shareholders, along with growth opportunities for our people.”
“DXC Technology will own a unique and highly differentiated value proposition,” said CSC chief marketing & communications officer Gary Stockman, who will serve in the same capacity at DXC Technology. “Over decades, CSC and HPE ES have successfully met the challenges of innovation, guiding the world’s largest enterprises and government agencies through multiple change cycles. Together as DXC Technology, our technology independence, world-class talent and industry-leading partner ecosystem will provide a clear and confident vision for the future.”
Until the completion of the merger, CSC and HPE ES will continue to operate under their current leadership structures as two separate organizations. All regulatory clearances that are a necessary condition to closing this merger have been secured, and the SEC registration process is ongoing.
Global brand strategy, design and experience firm Siegel+Gale is supporting the development of the new company brand and identity.
To preview the DXC Technology logo, go here.
