TYSONS, Va., March 8, 2018 – Perspecta will be the name of the new company formed by the proposed merger of the U.S. Public Sector Business of DXC Technology (NYSE: DXC) with Vencore Holding Corporation and KeyPoint Government Solutions when the transaction closes, it was announced today.
The name reflects the breadth and depth of the new capabilities and expertise that the combined company will bring to public sector customers, helping them to address critical national security and information-related challenges and opportunities.
Today’s announcement revealed the company name and logo. The full launch of the new brand will take place with the debut of the new company, which is expected in May 2018.
The strategic combination of the three complementary businesses, which was announced in October 2017, will create a mission-enabled, end-to-end IT services and mission solutions provider to government customers at the U.S. federal, state and local level.
“Perspecta will fill a unique market position in the government contracting space by offering a full spectrum of complementary capabilities, leveraging a strong track record of performance and innovation, and providing access to an unmatched team of highly skilled employees,” said DXC Technology chairman, president and CEO, Mike Lawrie, who will serve as the chairman of Perspecta upon the close of the proposed merger. “With a diversified customer base, Perspecta will be an innovative leader in addressing the evolving mission needs of public sector customers.”
“In selecting the new company’s name and brand, it was important to represent the optimism and excitement around the unique value that this combined entity will deliver to government customers,” said Vencore’s president and CEO, Mac Curtis, who will serve as CEO of Perspecta. “The name Perspecta does just that. With a keen focus on innovation and a deep understanding of our customers, we will passionately pursue smart, creative and collaborative approaches to solving the nation’s most complex challenges.”
Until the completion of the merger, DXC USPS, Vencore and KeyPoint will continue to operate under their current leadership structures as three separate organizations. All regulatory clearances that are a necessary condition to closing the merger have been secured, and the SEC registration process is ongoing.
About DXC Technology
DXC Technology (DXC: NYSE) is the world’s leading independent, end-to-end IT services company, helping clients harness the power of innovation to thrive on change. Created by the merger of CSC and the Enterprise Services business of Hewlett Packard Enterprise, DXC Technology serves nearly 6,000 private and public sector clients across 70 countries. The company’s technology independence, global talent and extensive partner network combine to deliver powerful next-generation IT services and solutions. DXC Technology is recognized among the best corporate citizens globally. For more information, visit dxc.technology.
Vencore is a proven provider of information solutions, engineering and analytics for the U.S. Government. With more than 40 years of experience working in the defense, civilian and intelligence communities, Vencore and its transformational applied research organization, Vencore Labs, design, develop and deliver high impact, mission-critical services and solutions to overcome its customers most complex problems. Vencore has 3,750 employees and is based in Chantilly, Va.
KeyPoint Government Solutions is a mission-critical provider of specialized investigative services to a broad range of organizations spanning the federal, defense, intelligence and civilian sectors. Leveraging proprietary algorithmic workflow systems and a nationwide footprint of highly experienced investigators and subject matter experts, KeyPoint provides critical information to support sensitive decisions. KeyPoint has a workforce of 3,700 and is based in Loveland, CO.
All statements in this press release that do not directly and exclusively relate to historical facts constitute forward-looking statements, including statements regarding our intention to separate the company into two, independently publicly traded companies and expected benefits to be realized as a result of the separation.
There is no assurance as to the timing of the separation or whether it will be completed. These statements represent DXC Technology’s intentions, plans, expectations and beliefs, and no assurance can be given that the results described in such statements will be achieved. These statements are subject to risks, uncertainties, and other factors, many outside of DXC’s control, that could cause actual results to differ materially from the results described in such statements.
For a written description of these factors, see the section titled “Risk Factors” in DXC's Quarterly Reports on Form 10-Q for the quarters ended June 30, 2017, September 30, 2017 and December 31, 2017 and any updating information in subsequent SEC filings.
No assurance can be given that any goal or plan set forth in any forward-looking statement can or will be achieved, and readers are cautioned not to place undue reliance on such statements which speak only as of the date they are made. We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events except as required by law.