Reported about 1 year ago
Buyout firm Apollo Global and IT services provider Kyndryl Holdings, derived from IBM, are considering a joint bid for DXC Technology, aiming for an acquisition offer of $22 to $25 per share. DXC Technology, an IT services vendor, is exploring options to sell its insurance software business for over $2 billion and may continue as an independent company. DXC's revenue has been impacted by reduced corporate spending, leading to cost cuts and restructuring. Apollo and Kyndryl have declined to comment on the matter, while sources remained anonymous. Kyndryl, specializing in infrastructure IT services, holds a market value of $6 billion, while Apollo, a major private equity investor, manages assets worth $671 billion.
Source: YAHOO