Apollo Global and Kyndryl Holdings, the information technology services provider spun out of IBM, are in talks about a potential acquisition of DXC Technology, according to sources familiar with the matter. The two companies have discussed an acquisition offer for DXC valued between $22 and $25 per share. DXC, also an IT services vendor, is currently running a process to sell its insurance software business for over $2 billion.
DXC has a market value of $3 billion and has not responded to requests for comment at this time. Neither Apollo nor Kyndryl have commented on the potential joint bid either. It is clear that both companies are positioning themselves for a possible takeover of DXC Technology as discussions about the terms of the bid continue.
The outcome of this situation could have significant implications for all parties involved. DXC’s decision on whether to sell its insurance software business or remain independent under new leadership adds further complexity to the situation. As the situation continues to develop, it will be interesting to see how it ultimately unfolds.
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