Home / M&A Activity / DXC Public Sector Business-Vencore-KeyPoint Merger Deal Set to Close by Month’s End

DXC Public Sector Business-Vencore-KeyPoint Merger Deal Set to Close by Month’s End

DXC Technology’s (NYSE: DXC) board of directors has scheduled May 25 as the record date for the planned spinoff of its U.S. public sector business as a separate, publicly traded company that will operate as Perspecta.

DXC said Monday it also set a May 31 date for the distribution of Perspecta shares and completion of the new company’s merger with Vencore and KeyPoint Government Solutions.

DXC shareholders will get one share of Perspecta common stock for every two shares of the former company’s common stock held on the May 25 record date under the distribution.

Perspecta is expected to begin trading on the New York Stock Exchange on June 1 under the ticker symbol “PRSP.”

DXC originally announced the proposed spinoff and merger of USPS with KeyPoint and Vencore in October 2017 in order to form a new government information technology services contractor.

Mac Curtis, president and CEO of Vencore and a 2018 Wash100 recipient, will serve as CEO of Perspecta.

Check Also

Navy Awards BAE $185M in Destroyer Ship Modernization Contracts

BAE Systems' ship repair business in San Diego has won a pair of contracts worth $185M combined from the U.S. Navy to modernize Arleigh Burke-class USS Decatur and USS Stethem destroyer ships.

ST Engineering’s iDirectGov Buys Glowlink in Satcom Tech Expansion Push

ST Engineering has acquired Glowlink Communications Technology through its iDirect Government subsidiary for approximately $25M.