(Reuters) - IT and consulting services provider DXC Technology Co said on Monday it would buy software development company Luxoft Holding Inc for about $2 billion to expand its digital offerings to the financial and automotive sectors.
Luxoft shareholders will get $59 per share in cash, representing a premium of about 86 percent to the company's closing price on Friday.
The company's shares were up 83 percent at $58.02 in premarket trading, while DXC shares were flat.
The companies said shareholders representing about 83 percent of Luxoft's total voting power have endorsed the deal, resulting in obtaining the requisite Luxoft shareholder approval.
The deal is expected to close by June 2019.
(Reporting by Akanksha Rana in Bengaluru; Editing by Shounak Dasgupta)
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