DXC Technology (NYSE: DXC) today announced it has acquired the outstanding shares of Virtual Clarity, a leading provider of IT-as-a-Service (ITaaS) transformation advisory services with a decade of experience in solving large scale IT modernization and application migration challenges for clients in the world’s most demanding, mission-critical environments.
The acquisition of Virtual Clarity further positions DXC as a leading provider of IT Modernization services for applications and infrastructure and strengthens DXC’s ability to assess, design and manage transformations to cloud.
“I am excited to welcome Virtual Clarity’s talented team to the DXC family,” said Mike Salvino, DXC’s president and CEO. “Virtual Clarity is a solid fit with our growth strategy with proven expertise in IT transformation and cloud migration. The company complements and enhances DXC’s capabilities in cloud, platforms and IT modernization, enabling DXC to help our clients with their digital transformation journey and improve their business outcomes.”
The addition of Virtual Clarity also builds on DXC’s acquisition earlier this year of Luxoft as clients increasingly are seeking industry specific application development and innovation as part of their IT modernization approach.
Founded in 2008, Virtual Clarity is comprised of a blend of enterprise IT experts with deep knowledge of modern tools, techniques and key industries – including Financial Services, Health Care, Manufacturing, and Telecommunications.
“From inception, we’ve been obsessed with customer outcomes,” said Virtual Clarity CEO Steve Peskin, who will report to Salvino. “Our approach to help clients transform their business quickly, seamlessly and safely complements the ability of DXC to execute globally at scale. Together with DXC, we create an immensely powerful and compelling opportunity for clients to unlock new value and competitive agility across the enterprise. We will make a real difference for clients, partners and our industry.”
DXC will combine its deep cloud and application engineering services and strategic partnerships with Virtual Clarity’s IT modernization capabilities to enable enterprise clients to accelerate their digital transformation, harness technology to improve efficiencies at scale, and drive business innovation:
- Accelerating our customers’ digital transformation journeys with Virtual Clarity’s Precision Guided Transformation services and unlocking the value of DXC’s application migration and modernization capabilities.
- Aligning IT-as-a-Service to the needs of the business-lines quickly and safely.
- Turning IT innovation into business value for customers with Virtual Clarity’s “Air Traffic Control” offering – a combination of unique tools, highly experienced enterprise IT leaders, and deep understanding of what it takes to implement change in complex enterprises.
The DXC and Virtual Clarity relationship has produced several success stories in recent years, including:
- Moving several thousand applications for a fortune 200 bank holding company to a hybrid cloud and clearing long-standing regulatory concerns by implementing a solution based on migration factory (Cloud Assessment, Architecture, and Air Traffic Control) and automated IT platform.
- Accelerated IT application modernization for a Major North American commercial bank by delivering a new, dynamic IT platform and Migration Factory which accelerated implementation and safeguarded the outcome. The client realized an 80%-plus reduction in IT unit costs and a 50-fold increase in the speed of change
- Migration of 7,000 applications to the public cloud for a Fortune 100 telecommunications leader. DXC and Virtual Clarity analyzed the IT applications platform, assessed options and charted the most effective course of action to rapidly migrate the 7,000 applications to the public cloud.
About DXC Technology
DXC Technology (NYSE: DXC), the world’s leading independent, end-to-end IT services company, manages and modernizes mission-critical systems, integrating them with new digital solutions to produce better business outcomes. The company’s global reach and talent, innovation platforms, technology independence and extensive partner network enable more than 6,000 private- and public-sector clients in 70 countries to thrive on change. For more information, visit www.dxc.technology.
Cautionary Note Regarding Forward-looking Statements
All statements in this press release that do not directly and exclusively relate to historical facts constitute “forward-looking statements.” These statements represent DXC’s intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside DXC’s control, and no assurance can be given that the results described in such statements will be achieved. Many factors could cause actual results to differ materially from such forward-looking statements with respect to the transaction announced above including risks relating to the completion of the transaction on anticipated timing, including obtaining regulatory approvals, anticipated tax treatment, unforeseen liabilities, future capital expenditures, inability to achieve expected synergies, loss of revenues, delay or business disruption caused by difficulties in integrating the businesses of DXC and Virtual Clarity. For a written description of risk factors that could cause actual results in DXC’s business to differ materially from forward looking statements regarding those matters, see the section titled “Risk Factors” in DXC’s Annual Report on Form 10-K for the fiscal year ended March 31, 2019, DXC’s Quarterly Reports on Form 10-Q for the quarterly periods ended June 30, 2019 and September 30, 2019, once available, and any updating information in subsequent SEC filings. DXC disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent event or otherwise, except as required by law.