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Saturday, March 25 2023

Wipro buys US-based cloud services firm for Rs 3340 Crores

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Bengaluru : Software major Wipro Ltd on Thursday announced that it had acquired Appirio, a US-based cloud services firm, for  Rs 3,340 crore ( $500 million)

“Appirio’s acquisition will create one of the world’s largest cloud transformation practices, a game changer in as-a-service and digital economy,” said the IT firm in a statement here ahead of its second quarter (July-September) results on Friday.

With 1,250 employees and offices at Dublin in Ireland, London in Britain, Jaipur in India and Tokyo in Japan, the Indianpolis headquartered Appirio is a partner to leading global brands, including Stryker, Robert Half, Johnson Controls, Cardinal Health, Coca-Cola, eBay, Facebook, Home Depot, and Sony PlayStation.

Appirio also brings to Wipro, Topcoder, a leading crowd-sourcing marketplace connecting over a million designers, developers and data scientists the world over with customers.

“In a digital world, as consumer behaviour and expectations are reshaped by experiences, companies are recognising the need to transform how they engage with customers and employees by leveraging the power of cloud,” said Wipro Chief Executive Abidali Z. Neemuchwala on the occasion.

The merger will also unlock transformation synergies in the applications space and help enterprises create new business models.

The buyout will also enable Wipro to consolidate its cloud applications practices of Salesforce and Workday under the Appirio brand and structure.

Appirio’s Chief Executive Chris Barbin will lead the expanded business.

“When you combine Wipro’s global scale and digital focus with our transformative worker and customer experience expertise, you create a formidable force in the industry,” said asserted Barbin in the statement.

Subject to regulatory approvals, the acquisition is expected to be closed in the current (third) quarter ending December 31.

William Blair & Company acted as financial advisor to Appirio for the deal.

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