Wipro to Acquire US Cloud Services Firm Appirio for $500 Mn
Wipro to acquire US cloud services firm Appirio for $500 mn BY TEAM VCC Wipro Ltd has agreed to buy US Reuters based cloud services company Appirio Inc. for $500 million (Rs 3,340 crore) in cash, as India's thirdlargest software services exporter continues to strike acquisitions overseas to strengthen its offerings in new technologies. The acquisition will create one of the world’s largest cloud transformation practices, Wipro said in a stockexchange filing. Appirio was set up in 2006 and has 1,250 employees across its headquarters in Indianapolis and offices in San Francisco, Dublin, London, Jaipur and Tokyo. This is the fifth acquisition by Wipro, led by billionaire chairman Azim Premji, since July last year and the secondbiggest ever. In February, Wipro agreed to purchase USbased HealthPlan Services, a businessprocessasaservice (BPaaS) provider, for $460 million. The company had in December agreed to acquire USbased Viteos Group, a BPaas provider for the alternative investment management industry in the US, Europe and Asia, for $130 million in cash. Also in December, Wipro said it would acquire German IT consulting firm Cellent AG for €73.5 million (about Rs 518 crore, or $78 million then). In July last year, Wipro Digital, the digital business unit of Wipro, agreed to buy Danish strategic design firm Designit for €85 million ($94 million then). Wipro’s biggest acquisition till date is the 2007 purchase of US IT firm Infocrossing for almost $600 million. It has acquired several smaller firms since then, including Opus Capital for around $75 million in 2013.
[Show full text]