CSC and HP's Services division rebrand as DXC Technology

Following the successful close of the deal between CSC and HP's spun off Enterprise Services, DXC Technology was recently added to the S&P 500. The merged business has also undergone a new branding initiative, including a new logo, in line with its changed name.

Late 2015 Hewlett-Packard split into two companies, HP, which spanned its PC and printing business, and Hewlett Packard Enterprise (HPE), which contained its services unit and industrial-grade server computers business. Late last year part of HPE further spun off its its IT consulting and services group (‘Enterprise Services’), which was acquired by CSC.

The deal was a relatively large one: Enterprise Services had revenues at the time of around $26 billion and more than 5,000 clients, 85 delivery centres and 95 data centres across 70 countries, and created one of the world’s largest pure-play IT services companies. The integration is projected to generate considerable synergies, in the order of $1 billion of immediate savings, with $1.5 billion per annum counted on in subsequent years.

The merger, whose completion date was set for March of this year, was recently completed. The new entity recently began trading on the S&P 500 index as DXC Technology, under the symbol “DXC.” The launch of the merged entity comes with new a branding, for which many of the firm’s employees, across 150 sites, were introduced to an inaugural advertising campaign.

“With the successful close of our transaction, we are standing up a company that is ideally suited to meeting the needs of a rapidly changing technology marketplace,” says Mike Lawrie, DXC Technology Chairman, President and Chief Executive Officer. “We are looking forward delivering on our promise of producing greater value for clients, partners and shareholders, along with growth opportunities for our people."