DXC in advanced talks to sell insurance software unit for $2.4 billion, sources say
DXC•DXC Technology is in advanced talks to sell its insurance software and services division to Eldridge Industries for about $2.4 billion. An agreement could be reached in the coming weeks, but the sources said a deal is not certain.
1. Sale talks
DXC Technology is in advanced talks to sell its insurance software and services division to Eldridge Industries for about $2.4 billion, people familiar with the matter said. An agreement could be reached in the coming weeks, though there is no certainty a deal will be finalized.
2. Potential combination
Eldridge is discussing combining the business with Zinnia, its insurance technology platform for life insurance and annuity providers. The transaction would bring together Zinnia’s platform and DXC’s insurance software and business-process services operations.
3. Portfolio streamlining
The sale would allow DXC to exit a business that provides technology and outsourcing services to insurers globally. DXC is seeking to streamline its portfolio after several years of declining revenue.
