Dxc Technology - DXC STOCK NEWS

DXC Technology (NYSE: DXC) has secured a five-year extension of its agreement with Zurich Insurance Group, enhancing IT and security services pivotal for Zurich's IT transformation. The deal enables Zurich to leverage DXC’s Enterprise Technology Stack, facilitating faster application deployment and improved operational resiliency. This partnership aims to elevate customer and employee experiences significantly, aligning with Zurich's digitization strategy, as stated by leaders from both companies.

DXC Technology (NYSE: DXC) has been selected by Copasa to modernize its back office and commercial processes to enhance water and sanitation services in Brazil. The transformation will utilize SAP S/4HANA and cloud applications to improve operational efficiency and customer service for 11.8 million people. The project involves over 200 professionals from DXC and Copasa, fostering a long-term partnership with SAP. Executives from Copasa acknowledge that the initiative will enhance agility, security, and customer experiences, positioning them for future challenges.

DXC Technology (NYSE: DXC) has been selected by First Horizon Bank to provide commercial credit card processing services, targeting a 150% growth in volume. This partnership builds on over a decade of collaboration with IBERIABANK. DXC will offer a comprehensive technology suite, including 24/7 customer support, advanced fraud protection, and a robust card management platform. The relationship reflects First Horizon's commitment to enhancing client experiences and operational efficiency.

DXC Technology has finalized the sale of its healthcare provider software business to Dedalus Group for approximately $450 million. This divestiture aligns with DXC's strategy to focus on the Enterprise Technology Stack. CEO Mike Salvino stated that the move strengthens DXC's balance sheet and creates value for stakeholders. Dedalus aims to enhance its clinical IT presence and is set to integrate its offerings to improve healthcare outcomes. This transaction marks a significant step in Dedalus's growth strategy initiated four years ago.

DXC Technology has successfully completed its cash tender offers for its 4.450% senior notes due 2022, expiring on March 22, 2021, with total valid tenders of approximately $120.8 million from its notes and $6 million from its subsidiary's notes. The company plans to pay for the accepted notes on March 23, 2021, and will retire remaining notes totaling $153.7 million and $164.8 million on April 15, 2021. MUFG Securities acted as the dealer manager for this transaction.

DXC Technology Company announced cash tender offers for its senior notes due 2022, providing a consideration based on U.S. Treasury Security yields. The offers expire on March 22, 2021. Holders must tender their notes before the expiration or comply with guaranteed delivery to receive payment. Notes not validly tendered will be retired on April 15, 2021. MUFG Securities Americas is the dealer manager, and Global Bondholder Services Corporation is the tender agent. This press release contains forward-looking statements and clarifies it does not constitute an offer to sell any notes.

DXC Technology Company (NYSE: DXC) has initiated tender offers for its 4.450% senior notes due 2022 and similar notes issued by its subsidiary, Computer Sciences Corporation. The offer, totaling $274.47 million for DXC Notes and $170.80 million for CSC Notes, aims to buy back these securities for cash. The tender offers will expire on March 22, 2021. Concurrently, DXC plans to fully redeem all remaining outstanding DXC and CSC Notes by April 15, 2021, using cash on hand. Important dates include the expected settlement on March 23, 2021, and the guaranteed delivery settlement on March 25, 2021.

DXC Technology has appointed Dawn Rogers and Kiko Washington to its Board of Directors, effective March 4, 2021. Rogers brings 35 years of HR experience, notably as the Chief HR Officer at Pfizer, where she managed HR for 85,000 employees. Washington, with a similar tenure at Warner Bros., held responsibilities in HR leadership and organizational transformation. Chairman Ian C. Read commended their leadership and expertise, stating their contributions will support the company's transformation journey focused on customers and employees.

DXC Technology (NYSE: DXC) reported third-quarter results for fiscal year 2021, showing revenue of $4,288 million and net income of $1,103 million. Non-GAAP net income was $221 million, with diluted EPS at $4.29. Global Business Services (GBS) revenue fell 18.6% year-over-year, while Global Infrastructure Services (GIS) revenue decreased 11.1%. Bookings totaled $2.7 billion for GBS and $2.2 billion for GIS. Despite declining revenues, the company reported improved margins and exceeded non-GAAP diluted EPS guidance, indicating effective cost optimization.