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If you owned DXC shares on May 25, 2018, you were issued shares in a new company called "Perspecta" -- with corresponding adjustment in value of your DXC shares. (This is not reflected in the HPAA's stock cost basis spreadsheets.) Perspecta is a new company -- spinning off the 6,500-employee U.S. Public Sector Business of DXC and merging it with 3,800-employee intelligence community contractor Vencore and 3,700-employee background investigation firm KeyPoint.
Perspecta stock details

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Find out what the company is telling Wall Street about employment prospects and strategic issues that will affect your career. You can read the transcripts of the analyst conference calls at https://perspecta.com/investor-relations

Perspecta's business and corporate history

From Perspecta 10-K report filed June 2019:

Perspecta is a leading provider of end-to-end enterprise information technology (“IT”), mission, and operations-related services across the United States (“U.S.”) federal government as well as to certain state and local government agencies...

History and Development

On May 31, 2018, Perspecta Inc. became an completely separate company through the consummation of the spin-off of the DXC U.S. Public Sector (“USPS”) business (the “Spin-Off”), and mergers with Vencore HC and KGS HC (the “Mergers”). To effect the Spin-Off, DXC distributed all of the shares of Perspecta common stock on a pro rata basis to the record holders of DXC common stock (the “Distribution”). On June 1, 2018, Perspecta began trading on the New York Stock Exchange under the ticker symbol “PRSP.” Both Vencore HC and KGS HC were owned by affiliates of Veritas Capital Fund Management, L.L.C. (“Veritas Capital”), a leading private equity firm recognized for its in-depth knowledge and understanding of government and technology-enabled end markets. Veritas Capital has remained an investor in Perspecta.

Each of the three legacy companies that formed Perspecta has a rich heritage and a strong set of capabilities:

• The USPS business of DXC dates back to 1962, when H. Ross Perot founded Electronic Data Systems Corporation (“EDS”), a pioneer in IT infrastructure, applications and business process outsourcing. EDS was acquired by Hewlett-Packard Company in 2008, and later merged into DXC in April 2017. [emphasis added]

• Vencore, Inc., now renamed Perspecta Engineering Services Inc. (“PES”), traces its roots back to General Electric Company's aerospace division, established in 1972 as The SI Organization Inc. (“The SI”) to enable the National Reconnaissance Office (“NRO”) to create a comprehensive, space-based national intelligence system. The SI was acquired by the predecessor of Lockheed Martin Corporation (“Lockheed Martin”), the Martin Marietta Corporation, in 1993 and sold to Veritas Capital in 2010. The SI rebranded as Vencore, Inc. after the acquisitions of Applied Communication Sciences in 2013 and QinetiQ North America Services and Solutions Group in 2014, which brought capabilities in applied research and technology solutions, agile software development for mission-critical systems, classified and commercial launch support, spacecraft engineering and enterprise IT.

• The legacy of KeyPoint is Kroll Government Services, Inc. (“KGS”), which was founded in 1995 to provide investigative due diligence and independent investigation services for police departments. KGS expanded to investigative support services for federal security and border patrol agents for the Department of Homeland Security (“DHS”) in 2003 and the National Background Investigation Bureau in 2004. In 2009, Kroll Government Services was acquired by Veritas Capital and renamed KeyPoint Government Solutions, Inc., which remains the largest provider of background investigative services for the U.S. government.

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