Warburg Pincus, Wipro Technologies in advanced talks for Harman's India business: Report

The DTS unit provides digital transformation solutions across sectors and is a key contributor to the company’s revenue growth, particularly through its Indian operations

Private equity firm Warburg Pincus and Wipro Technologies are in advanced talks to buy Harman’s India business of digital transformation solutions (DTS) at an expected valuation of $500 million (Rs 4,375 crore), a report by the Economic Times said on August 14.

Harman, headquartered in the US, is known for brands such as JBL, Harman Kardon and Infinity. It designs and engineers audio and connected electronic goods for carmakers and customers, the paper said. Harman is a wholly owned unit of South Korea’s Samsung Group.

The DTS unit provides digital transformation solutions across sectors and is a key contributor to the company’s revenue growth, particularly through its Indian operations. It is separate from its lifestyle audio segment.

Moneycontrol could not verify the report.

Earlier, it was reported that Apax Partners, Bain Capital, Carlyle, and General Atlantic, are in contention to acquire a controlling stake in the business.