Veritas Capital’s Acquisition of DXC Technology’s $5 Billion U.S. State and Local Health and Human Services Business

Schulte represented Veritas Capital in the transaction, J Sagar Associates (JSA) advised DXC Technologies.

Veritas Capital entered into a definitive agreement to acquire the U.S. State and Local Health and Human Services business of DXC Technology in a transaction valued at $5 billion. DXC Technology’s U.S. State and Local Health and Human Services business offers end-to-end technology enabled, mission critical solutions that are fundamental to the administration and operations of health programs throughout the United States.

Veritas is a leading private equity firm that has made the healthcare technology space a key area of focus. The acquisition of the U.S. State and Local Health and Human Services business gives Veritas access to DXC’s world-class products and solutions that currently serve 42 states and territories. The deal was announced in March 2020 and closed in October 2020.

The Schulte team that advised Veritas Capital was led by M&A and securities partner Richard Presutti (Picture) and associate Lowell Dyer. The team also included M&A and securities partner Andrew Fadale and associates William Tevlin and Kristen Lin; finance partners Antonio Diaz-Albertini and Christopher Bell and associate Nicholas DeLisa; tax partner David Passey and associate Joseph Reich; employment & employee benefits partner Ian Levin and associate Adam Gartner; and intellectual property, sourcing & technology partner Edward Sadtler and special counsel John Garces.

JSA’s team was led by partners Sajai Singh and Rakesh Warrier, senior associates Anup Kulkarni and Lakshmi Ramachandran, and associates A S Nagarjun and Archana Iyer.

Involved fees earner: Archana Iyer – J. Sagar Associates (JSA); Anup Kulkarni – J. Sagar Associates (JSA); Lakshmi Ramachandran – J. Sagar Associates (JSA); Sajai Singh – J. Sagar Associates (JSA); Rakesh Warrier – J. Sagar Associates (JSA); Christopher Bell – Schulte Roth & Zabel; Nicholas DeLisa – Schulte Roth & Zabel; Antonio Diaz-Albertini – Schulte Roth & Zabel; Lowell Dyer – Schulte Roth & Zabel; Andrew Fadale – Schulte Roth & Zabel; John Garces – Schulte Roth & Zabel; Adam Gartner – Schulte Roth & Zabel; Ian Levin – Schulte Roth & Zabel; Kristen Lin – Schulte Roth & Zabel; David Passey – Schulte Roth & Zabel; Richard Presutti – Schulte Roth & Zabel; Joseph Reich – Schulte Roth & Zabel; Edward Sadtler – Schulte Roth & Zabel; William Tevlin – Schulte Roth & Zabel;

Law Firms: J. Sagar Associates (JSA); Schulte Roth & Zabel;

Clients: DXC Technology Co; Veritas Capital ;