Zug, Switzerland - (BUSINESS WIRE) - DXC Technology Company (NYSE: DXC) subsidiary company Luxoft today announced the completion of CMORE Automotive takeover, CMORE Automotive is a company dedicated to the development and validation of AI-driven system of independent travel service providers Quotient.
Luxoft announced the final agreement to acquire CMORE Automotive on March 5, 2020, and received final regulatory approval on March 24, 2020.
The acquisition will enhance Luxoft ’s data-driven development, testing, and verification capabilities for autonomous driving / advanced driver assistance systems (AD / ADAS) with Level 3 to Level 5 autonomous capabilities, and enhance the company ’s large-scale design and deployment changes for customers The ability of sexual AD / ADAS procedures.
Dmitry Loschinin, Executive Vice President of DXC Technology and President and CEO of Luxoft, said: "After the acquisition of CMORE Automotive, Luxoft will expand the scope of its AD / ADAS program to help customers enhance the development, testing and verification of their integration, perception and drive functions. Ability to provide transformative AD / ADAS solutions on a large scale. We welcome the CMORE Automotive team to join the DXC family. "
Richard Woller, CEO of CMORE Automotive, said: "We are very pleased to join DXC and its autonomous driving team and look forward to accelerating the customer's vehicle through end-to-end AI-driven large-scale development, testing and verification of AD / ADAS solutions. Series of projects. "
About Luxoft
DXC Technology Company (NYSE: DXC), a subsidiary of Luxoft, a digital strategy and software engineering company, is committed to providing customized technical solutions that drive business change to customers worldwide. Through its strategy, consulting and engineering services, Luxoft uses technology to transform its business, enhance the customer experience, and improve operational efficiency. Luxoft combines excellent engineering technology and deep industry knowledge, specializing in automotive, financial services, travel and hospitality, healthcare, life sciences, media and telecommunications. For more information, please visit www.luxoft.com .
About DXC Technology
DXC Technology (NYSE: DXC) helps global companies execute their mission-critical systems and operations while modernizing IT, optimizing data architecture, and ensuring security and scalability across public, private, and hybrid clouds. Driven by decades of innovation, DXC has gained the trust of the world ’s largest companies. They have deployed our enterprise technology stack to achieve a higher level of performance, competitiveness and customer experience. To learn more about the DXC story and our focus on people, customers and operational execution, please visit www.dxc.technology .
Cautionary Statement Regarding Forward-Looking Statements All statements in
this press release that are not directly or completely related to historical facts are "forward-looking statements." These statements represent DXC's intentions, plans, expectations, and beliefs, and are affected by risks, uncertainties, and other factors, many of which are beyond the control of DXC, so there is no guarantee that the results described in such statements will be achieved. Many factors can cause actual results to differ materially from such forward-looking statements regarding the transaction results described above, including unforeseen liabilities, future capital expenditures, failure to achieve expected synergies, revenue loss, delays or business Interrupt. For a written description of the risk factors that may cause DXC ’s actual business results to be materially different from the relevant forward-looking statements, please refer to the “Risk Factors” section of Form 10-K in DXC ’s annual financial report as of March 31, 2019. DXC's Form 10-Q quarterly report from June 30, 2019 to September 30, 2019 and any updated information subsequently submitted to the SEC. Unless required by law, neither DXC nor Luxoft intend or be obliged to update these forward-looking statements for follow-up activities or other reasons.
