Apollo, Kyndryl in bid for DXC Technology, sources say

DXC Technology

10/06/2024 20:56

By Greg Roumeliotis and Milana Vinn
       June 10 (Reuters) - Buyout firm Apollo Global  APO.N 
and Kyndryl Holdings  KD.N , the information technology services
provider that was spun out of IBM  IBM.N , are in talks about a
joint bid for DXC Technology  DXC.N , people familiar with the
matter said on Monday.
    Apollo and Kyndryl have discussed an acquisition offer for
DXC of between $22 and $25 per share, one of the sources said. 
    DXC, which is also an IT services vendor, is separately
running a process to sell its insurance software business for
more than $2 billion, and may opt to remain an independent
company under Raul Fernandez, who was appointed chief executive
in February, the sources added. 
    The sources requested anonymity because the matter is
confidential. DXC, which has a market value of $3 billion, and
Kyndryl did not immediately respond to requests for comment.
Apollo declined to comment.

 (Reporting by Greg Roumeliotis and Milana Vinn in New York;
editing by Jonathan Oatis)
 ((Greg.Roumeliotis@thomsonreuters.com; +1 646 223 6022; Reuters
Messaging: greg.roumeliotis.thomsonreuters.com@reuters.net))