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ASHBURN, Va. - DXC Technology (NYSE:DXC), a prominent player in the IT Services industry with annual revenue of $12.87 billion, has entered into a 10-year agreement with Unicaja, one of Spain’s leading banks, to transform and modernize its banking operations, according to a press release issued Tuesday.
The technology services provider will implement artificial intelligence solutions to enhance automation, agility and customer interactions at the Spanish bank. The partnership aligns with Unicaja’s 2025-2027 strategic plan focused on accelerating innovation. According to InvestingPro data, DXC currently trades at an attractive P/E ratio of 6.67, suggesting potential value for investors interested in the digital transformation sector.
"This marks a milestone in our evolution toward a more agile and intelligent operating model, ready to face the challenges of the financial sector," said Estrella Botas, Head of Technology and Operations at Unicaja.
As part of the agreement, DXC plans to acquire FK2, a Unicaja Group company, pending regulatory approval. The technology firm will also assume leadership of a specialized team with banking and technology expertise.
Juan Medina, Head of People, Organization, and Legal at Unicaja, said the partnership would provide the bank with "new tools and capabilities to support and optimize the work of our current teams."
DXC will additionally help Unicaja prioritize secure banking systems that comply with European regulations.
Alfonso Garcia, Managing Director of DXC Technology for Spain and Portugal, noted that the company supports all major banks in Spain and has decades of experience in the banking sector globally.
The financial terms of the agreement were not disclosed in the announcement.
In other recent news, DXC Technology has reported financial results that exceeded expectations, with both revenue and adjusted earnings per share surpassing projections from RBC Capital and other Wall Street analysts. Despite this strong performance, RBC Capital has lowered its price target for DXC Technology from $27.00 to $18.00, maintaining a Sector Perform rating. The decision reflects concerns about the broader economic climate and the company’s exposure to larger product mixes. DXC Technology also announced a partnership with Thought Machine to modernize core banking systems for small and midsize banks, aiming to enhance their competitive edge with cloud-native solutions. Additionally, the company has relaunched its DXC Fast RISE with SAP service in Mexico, utilizing Microsoft Azure to support cloud migration for local enterprises. In leadership changes, DXC Technology appointed Ramnath Venkataraman as President of Consulting & Engineering Services, following the departure of Howard Boville. Venkataraman brings extensive experience from Accenture, where he led global technology initiatives. These developments mark significant steps in DXC Technology’s strategy to drive innovation and modernization across various sectors.
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