Deal Snapshot
DXC TECHNOLOGY TO COMBINE ITS US PUBLIC SECTOR BUSINESS WITH VENCORE HOLDING, KEYPOINT GOVERNMENT SOLUTIONS
Thursday 12 October 2017

US-based IT services company DXC Technology's (NYSE: DXC) board of directors has unanimously approved a plan to combine its US Public Sector business with Vencore Holding Corp. and KeyPoint Government Solutions to form a separate, independent publicly traded company to serve US public sector clients, the company said.
Both Vencore and KeyPoint are currently owned by affiliates of VeritasCapital, a private equity firm. Veritas Capital will remain an investor in the new company. The formation of the new company is expected to be completed by the end of March 2018, subject to regulatory and other approvals.


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Details
Date Published: 12/10/2017
Target: DXC,  Technology/US Public Sector business
Country: USA
Deal Size: 1.05bn (USD)
Sector: IT/Online Services
Type: Divestment
Financing: Cash
Status: Agreed
Vendor: DXC,  Technology
Buyer: Vencore,  Holding, KeyPoint Government Solutions
Buyer Advisor: Stone Key Partners , Veritas Capital , Vencore , KeyPoint , Schulte Roth and Zabel , Skadden, Arps, Slate, Meagher and Flom , Covington and Burling
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