Perspecta separates from DXC Technology, becomes independent company

Perspecta Inc. of Chantilly, VA announced on June 1 that it has completed its separation from DXC Technology Company and is now an independent public company, commencing trading today on the New York Stock Exchange (NYSE) under the ticker symbol “PRSP.”

Additionally, Perspecta—the new company formed by the spin-off of the DXC Technology U.S. Public Sector (USPS) business—completed its planned combination with Vencore Inc. and KeyPoint Government Solutions. On June 11, 2018, members of the Perspecta leadership team will ring the NYSE Opening Bell to mark the milestone.

Perspecta, with 14,000 employees and pro-forma revenues of $4.2 billion, helps U.S. government customers achieve their missions, transform to digital environments, secure, modernize and optimize their enterprises, and innovate for the future.

“Last fall, DXC’s board of directors set on a path to unlock value by spinning out DXC’s U.S. Public Sector business, enabling two leading pure-play companies to focus exclusively on their respective customer segments and better serve the interests of their individual clients, employees and other stakeholders,” said Mike Lawrie, the DXC Technology chairman, president and CEO, who also serves as Perspecta’s chairman. “The strategic combination of USPS with Vencore and KeyPoint creates an end-to-end solution provider that is uniquely positioned to drive value.”

“Combining the strong enterprise IT services business from USPS with the innovative mission services businesses of Vencore and KeyPoint creates a powerful force in the market with compelling scale and a promising financial profile,” said Mac Curtis, Perspecta president and CEO. “Together, we have an extensive intellectual property portfolio and unparalleled knowledge in areas that are directly aligned with government priorities. Our talented employees are excited about moving forward together as a single, stronger company dedicated to supporting the important missions of our customers.”

Effective May 31, 2018 the Perspecta board of directors was appointed as follows:

• Mike Lawrie, president, and chief executive officer, DXC Technology, serving as chairman of the Perspecta board;
• Mac Curtis, president and chief executive officer, Perspecta;
• Paul N. Saleh, executive vice president and chief financial officer, DXC Technology;
• Sanju K. Bansal, chief executive officer, Hunch Analytics;
• Sondra L. Barbour, former executive vice president, Lockheed Martin Corporation;
• Lisa S. Disbrow, former Under Secretary of the United States Air Force;
• Pamela O. Kimmet, chief human resources officer, Cardinal Health, Inc.;
• Ramzi M. Musallam, chief executive officer and managing partner, Veritas Capital;
• Philip O. Nolan, venture partner and advisory board member, Blue Delta Capital Partners; and
• Biggs C. Porter, former executive vice president, chief financial officer, Fluor Corporation.

Additionally, John P. Kavanaugh was appointed Perspecta chief financial officer, James L. Gallagher was appointed Perspecta general counsel and secretary, Tammy M. Heller was appointed chief human resources officer, and William G. Luebke was appointed principal accounting officer and controller.

Source: Perspecta