DXC Technology Completes Sale of
DXC intends to use the net proceeds from the
'On behalf of everyone at DXC, I would like to thank our people who are joining Gainwell for their service and commitment to DXC. I would also like to thank our customers who are in great hands going forward,' said
'Today marks the beginning of an exciting new chapter for Gainwell, and we thank DXC for its partnership and stewardship in establishing the company as a true technology leader,' said
Gainwell will operate as a standalone company with over 7,500 employees who support clients across 42 U.S. states and territories with offerings including Medicaid Management Information Systems (MMIS), fiscal agent services, program integrity, care management, immunization registry and eligibility services. With over 50 years of proven experience, Gainwell carries forward a reputation for technological innovation, service excellence and unparalleled industry expertise in offering clients scalable and flexible solutions for their most complex challenges. For more information on Gainwell, visit www.gainwelltechnologies.com.
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Veritas is a leading private investment firm that invests in companies that provide critical products and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide, including those operating in the healthcare, aerospace & defense, software, national security, communications, energy, government services and education industries. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. For more information on Veritas, visit www.veritascapital.com.
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Cautionary Note Regarding Forward-looking Statements
All statements in this press release that do not directly and exclusively relate to historical facts constitute 'forward-looking statements.' These statements represent DXC's intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors many of which are outside DXC's control. Many factors could cause actual results to differ materially from such forward-looking statements with respect to the transaction announced above, including risks relating to: the completion of the transaction on anticipated timing, including obtaining regulatory and third-party approvals; conditions in the credit markets; anticipated tax treatment for the proposed transaction; unforeseen liabilities; loss of revenues; the potential impact of announcement or consummation of the proposed transaction on relationships with third parties, including clients, employees and competitors; and the delay or business disruption caused by difficulties in separating the divested business from DXC's remaining businesses. For a written description of the factors that could cause actual results of DXC's business to differ materially from these forward-looking statements, see the section titled 'Risk Factors' in DXC's Annual Report on Form 10-K for the fiscal year ended
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