(Bloomberg) — Information-technology services provider DXC Technology Co. is working with advisers after receiving takeover interest, according to people familiar with the matter. The stock rose more than 9% on the news.
(Bloomberg) — Information-technology services provider DXC Technology Co. is working with advisers after receiving takeover interest, according to people familiar with the matter. The stock rose more than 9% on the news.
DXC has been approached by at least one private equity firm, the people said, asking to not be identified because the matter isn’t public. It’s unclear whether the technology company is open to a sale.
A representative for DXC declined to comment.
After a trading pause, DXC rose 5.6% to $28.56 at 1:36 p.m. in New York on Wednesday, giving the company a market value of about $6.6 billion.
Technology dealmaking has held steady this year amid the broader slump in mergers and acquisitions. Part of that has been driven by private equity firms, which love the sector and are taking advantage of a market dip to go shopping. Vista Equity Partners this week offered to buy software-security firm KnowBe4 Inc., according to a statement Monday.
DXC, which provides analytics and business-process services to insurance and aerospace companies, has been a takeover target before. French technology services provider Atos SE approached it about a combination last year before walking away after DXC described its offer as inadequate.
(Updates trading in first and fourth paragraphs.)
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