March 11, 2020
DXC Technology (NYSE: DXC) has announced that it has entered into a definitive agreement to sell its US State and Local Health and Human Services (State & Local HHS) business to Veritas Capital, the leading investor in government and healthcare technology businesses, for US$5 billion in cash. The sale is the initial outcome of a process DXC announced in November 2019 to explore strategic alternatives for three of its non-core assets.
Latham & Watkins LLP represents DXC Technology in the transaction with a corporate deal team led by New York partners Alex Kelly and Peter Harwich, with associates Leah Sauter, Molly Ryan, and Yana Izrailov. Advice was also provided on intellectual property matters by New York partner Steven Betensky, with associate Morgan Brubaker; on tax matters by New York partner Lisa Watts; on benefits and compensation matters by Los Angeles partner Michelle Carpenter and London partner Catherine Drinnan; on debt finance matters by New York partner Joshua Tinkelman and New York counsel Seniz Yakut; on structured finance matters by New York partner Loren Finegold; on real estate matters by San Diego partner James Mann; on data security matters by Washington, D.C. partner Jennifer Archie; on antitrust matters by Washington, D.C. partner Alan Devlin, Brussels partner Hector Armengod, and Washington, D.C. counsel Peter Todaro; on government contracts matters by Washington, D.C. counsels Kyle Jefcoat and Dean Baxtresser; and on insurance matters by Los Angeles partner Drew Levin.