Apollo, Kyndryl in bid for DXC Technology

Apollo Global Management (APO.N) and Kyndryl Holdings (KD.N) are reportedly in discussions about a joint bid to acquire DXC Technology (DXC.N), an information technology services provider.

The potential acquisition offer ranges between $22 and $25 per share. The news of these talks led to a significant rise in DXC's share price, which closed at $18.45 on Monday, reflecting an 11% increase and giving the company a market value of approximately $3.3 billion.

A prominent buyout firm with extensive experience in acquisitions and investments across various sectors. A leading information technology services provider that was recently spun out of IBM. Kyndryl focuses on managing and modernizing critical information systems for businesses and governments.

Apollo and Kyndryl are considering an acquisition offer for DXC Technology in the range of $22 to $25 per share. The offer price represents a premium over DXC's current trading price, indicating the value and potential seen by the bidders.

Acquiring DXC Technology would enhance Apollo's portfolio with a strong player in the IT services sector, aligning with its strategy of investing in high-potential industries. The acquisition would allow Kyndryl to expand its service offerings, client base, and geographic reach, strengthening its position in the IT services market.

This development has already positively impacted DXC's market valuation and could lead to transformative changes in the industry if the acquisition proceeds. As the talks progress, stakeholders will be keenly observing the implications for the companies involved and the broader IT services market.