Recently I came across a small company in technology - Xchanging solutions and it looks interesting.
The listed Indian entity was initially a subsidiary of Xchanging Solutions PLC, UK parent - which was later acquired by CSC. CSC was subsequently acquired by HP. HP later demerged their Enterprise business into DXC technologies …so now, the listed Indian entity is a subsidiary of DXC tech.
The valuations of Xchanging is similar to that of MNC product tech companies like Oracle Finance. The business is mostly insurance focused. Overall they have a Product + BPO business. Product seems a strong one in UK with client such as LLyod.
What I am trying to figure out is the listed Indian entity includes the Product part of business or only the BPO part. How strong is the Insurance Product, if it is owned by Xchanging Indian entity or any part of Product business trickles down to Indian entity in terms of support etc. Also, what is the future roadmap for the listed Indian entity. They already tried twice to delist with failure. Any insight on these points most welcome!
Disc: Hold tracking position. Not a buy/sell recommendation. Post is only to learn more about business and track its progress.