Xchanging

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UK DXC Technology owned company

title: "Xchanging" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["business-services-companies-of-the-united-kingdom", "international-business", "business-services-companies-established-in-1999", "companies-formerly-listed-on-the-london-stock-exchange", "companies-based-in-the-city-of-london", "2016-mergers-and-acquisitions", "british-subsidiaries-of-foreign-companies", "british-companies-established-in-1999"] description: "UK DXC Technology owned company" topic_path: "geography/united-kingdom" source: "https://en.wikipedia.org/wiki/Xchanging" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0

::summary UK DXC Technology owned company ::

::data[format=table title="Infobox company"]

FieldValue
nameXchanging - DXC Technology Company
logo[[File:Xchanging BM rgb.jpg
typePublic ()
foundation1999
locationLondon, United Kingdom
key_people
num_employees7,000 (2015)
industryTechnology
revenue£440.2 million (2015)
parentDXC Technology
homepage
::

| name = Xchanging - DXC Technology Company | logo = [[File:Xchanging BM rgb.jpg|200px]] | type = Public () | foundation = 1999 | location = London, United Kingdom | key_people = | num_employees = 7,000 (2015) | industry = Technology | revenue = £440.2 million (2015) | parent = DXC Technology | homepage =

Xchanging is a business process and technology services provider and integrator, owned by DXC Technology, providing business services to the commercial insurance industry. In outsourcing, Xchanging will typically take over a customer's business process, or back office function, and incorporate them into an existing platform.

Xchanging employs over 7,000 people worldwide. Xchanging offers IT outsourcing, infrastructure including network managed services, software products and application management. It also sells procurement services.

It was listed on the London Stock Exchange until it was acquired by CSC in May 2016. On 3 April 2017, DXC Technology announced that Xchanging was now part of the new company formed by the merger of CSC and HPE Enterprise Services.

History

Xchanging was founded in 1999, by David Andrews, a former partner in Andersen Consulting. Andrews came up with the idea at Andersen Consulting, to create joint ventures with multinational companies to outsource the processing of back-office transactions.

In 2000, Xchanging and BAE Systems created the first of these 'Enterprise Partnerships', for HR services (see also). A second followed soon after, again with BAE Systems, for indirect procurement. In 2012, Xchanging entered the US Indirect Procurement market through an agreement with U.S. based BAE Systems representing $800 million in spend to be addressed over 7 years.

Two years later, Xchanging and Lloyd's of London created two more 'Enterprise Partnerships', one for claims processing, and one for the London Insurance market's back office system; the latter including the IUA as a partner too. Further partnerships were signed with Deutsche Bank in 2004 (introducing Xchanging into the European financial market), Aon in 2006 (in broking services) and Allianz GI in 2007.

In 2007, Xchanging listed on the London Stock Exchange, entering the FTSE250.

In 2009, Xchanging acquired a 75% stake in Cambridge Solutions, another outsourcing business.

In 2010, Xchanging further expanded in the European financial sector by developing an eighth 'Enterprise Partnership' with Italian group, SIA-SSB. As part of this deal Xchanging acquired 51% of Kedrios S.p.A. (Kedrios), the Italian subsidiary of SIA-SSB that specialises in securities processing and fund administration services for the Italian market.

In mid 2010, Xchanging acquired security and technology communications company, Data Integration. The company is an IT services business in the United Kingdom. The company specialises in network security, application optimisation, mobility services, high performance networks, IP telephony and open access networks.

Based on a number of long-term Enterprise Partnerships and the acquisition of Cambridge Solutions, Xchanging reported a 35% revenue increase year-on-year to £750.4m, at the end of 2009.

On 8 February 2011, Xchanging issued a profit warning and announced a £100 million write-off on goodwill. David Andrews stepped down with immediate effect and became "senior adviser to the chairman", Ken Lever assumed the role of Acting Chief Executive Officer in addition to his role as CFO.

On ** **3 July 2014, Xchanging acquired Total Objects Ltd.

In May 2016, CSC acquired Xchanging plc in a deal valued at £480 million, or approximately US$720 million.{{Cite web | url = http://www.csc.com/newsroom/press_releases/135745-csc_makes_cash_offer_for_xchanging_plc | title = CSC Makes Cash Offer for Xchanging Plc. | website = Computer Sciences Corporation | access-date = 25 February 2016

Notable partners and customers

Xchanging's partners include Lloyd's of London, Deutsche Bank, Allianz, Aon SIA-SSB and others.

Operations

Xchanging works with large organisations in processing areas such as HR, accounting, technology, customer administration, and procurement. Also, industry specific processing includes securities processing and insurance claims processing and others.

Locations

Xchanging has offices in ten principal locations - Australia - Insurance and Procurement, France - RTO and Nasdaq, Italy - Monetary Policy and Compensation, Germany, India, Japan, Malaysia, Singapore, the UK and the United States.

Low-Carbon Shimoga Project

On Prime Minister David Cameron's visit to India in July 2010, CEO David Andrews revealed plans to create a new low-carbon 1,000 person processing centre, with an option to scale to 2,000, in Shimoga, a tier three town, north-west of Bangalore."

University Boat Race

Xchanging was the title sponsor of the Boat Race, an annual rowing competition between the Oxford and Cambridge universities from 2005 until 2012.

References

References

  1. "Download Area". Xchanging plc.
  2. "Xchanging Business Processing, Procurement and Technology Services Provider". Xchanging plc.
  3. [http://www.xchanging.com/InvestorRelations/documents/Xchanging_annual_report_2009_website_25March10.pdf Annual Report 2009] {{webarchive. link. (14 April 2010 , page 4)
  4. "Investing in Xchanging". Xchanging plc.
  5. "Xchanging becomes part of DXC Technology".
  6. [http://www.globalservicesmedia.com/Strategies-and-Best-Practices/Global-Sourcing/The-Power-of-Partnerships/24/47/0/general200705211356 The Power of Partnerships] {{webarchive. link. (11 July 2011)
  7. [http://www.carig.co.uk/pages/userdata/carig/bpoenterprisepartnership_teb.pdf BPO Enterprise Partnerships] {{webarchive. link. (12 March 2012)
  8. Xchanging UK Limited. (17 January 2007). "Xchanging Acquires BAE Systems' Remaining 50% Share in Jointly Owned HR Services Company".
  9. "News". Xchanging plc.
  10. (17 August 2011). "Xchanging and BAE Systems Inc Sign Seven Year US Procurement Outsourcing Services Contract". Reuters.
  11. [http://www.lloyds.com/Lloyds/Press-Centre/Press-Releases/2001/11/Lloyds_and_Xchanging_announce_deal_to_commercialise_Lloyds_claims_office Lloyd's Press Release] {{webarchive. link. (28 September 2011)
  12. "IUA of London".
  13. (28 May 2004). "Xchanging takes majority stake in Deutsche Bank transaction subsidi...". Finextra Research.
  14. "Deutsche Bank Annual Report 2004 - Transactions Xchanging".
  15. (14 August 2006). "Aon Outsources London Market Processing Operations to Xchanging". Insurance Journal.
  16. Sophie Brodie. (24 August 2007). "Xchanging in £270m Allianz deal". The Daily Telegraph.
  17. [http://www.globalservicesmedia.com/News/Home/Allianz-in-$600-Mn-Outsourcing-Deal-with-Xchanging/21/27/0/general200708232712 Allianz Outsoucring Deal] {{webarchive. link. (11 July 2011)
  18. [http://www.allianzglobalinvestors.com/en/aboutus/GlobalPresence/Europe/PresenceInGermany/Pages/FondsDepotBank.aspx Allianz Press release] {{webarchive. link. (1 March 2012)
  19. "News". Xchanging plc.
  20. (2002-01-01). "Xchanging plans to float for £1bn".
  21. (27 March 2007). "Xchanging Prepares IPO". Insurance Journal.
  22. (5 October 2008). "Xchanging to acquire Cambridge for 83 mn pounds". The Economic Times.
  23. (6 October 2008). "Xchanging acquires 75% stake in Cambridge Solutions". Finextra Research.
  24. "News". Xchanging plc.
  25. (2 August 2010). "Xchanging completes SIA-SSB deal". Finextra Research.
  26. "Europe goes mad over outsourcing".
  27. (21 June 2010). "Xchanging snaps up network security business Data Integration for up to £9 million". Proactiveinvestors UK.
  28. "Data Integration".
  29. "Xchanging PLC, XCH:LSE financials".
  30. Fletcher, Nick. (9 February 2011). "Outsourcing group Xchanging halves in value after profit warning". The Guardian.
  31. "Xchanging PLC - Trading Statement".
  32. [http://www.businessworld.in/bw/2010_07_30_We_Are_Fairly_Industry_Agnostic.html Business World, We are Fairly Industry Agnostic] {{webarchive. link. (9 August 2010)
  33. "Xchanging Geographic Reach". Xchanging plc.
  34. (29 July 2010). "British PM David Cameron gifts 2,000 jobs to Shimoga". dna.
  35. Watt, Nicholas. (27 July 2010). "David Cameron seeks to impress India with his massive delegation". The Guardian.
  36. "Sleepy Shimoga to go global". Deccan Herald.
  37. "Economy". EGOV Monitor.
  38. "News". Xchanging plc.
  39. Rachel Quarrell. (20 November 2009). "University Boat Race to have title sponsorship from 2010 onwards". [[The Daily Telegraph]].
  40. "Xchanging becomes title sponsor of The Boat Race". The Boat Race Company.
  41. "Latest news". University of Cambridge.

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business-services-companies-of-the-united-kingdominternational-businessbusiness-services-companies-established-in-1999companies-formerly-listed-on-the-london-stock-exchangecompanies-based-in-the-city-of-london2016-mergers-and-acquisitionsbritish-subsidiaries-of-foreign-companiesbritish-companies-established-in-1999