Pursuant to the agreement between DXC and Luxoft, all of the issued and outstanding Luxoft Class A and Class B ordinary shares will receive $59 per share in cash, representing a total equity value of approximately $2 billion, DXC said in a press release.
Closing of the transaction is anticipated by June 2019 and is subject to customary conditions and regulatory approvals.
Luxoft Professional Romania, the local subsidiary of Russian developer Luxoft headquartered in Switzerland, had a net turnover of RON310.6 million in 2017, up 8.5% on the year, according to finance ministry data. Its net profit grew 50% on the year to over RON21 million in 2017.