Bengaluru-based IT services firm Wipro acquired US-based consulting firm Convergence Acceleration Solutions (CAS) for $80 million to drive large-scale business and technology transformation for clients.
The company will pay $50 million upfront and the remaining $30 million will be payable over three years. “The joint entity will provide clients with services ranging from strategy development and planning to execution and implementation,” Wipro said in a statement.
CAS Group, founded in 2007, offers strategic transformation programmes across various services including mobile/wireless, business, and fibre-optic services, 5G, Internet of Things, and telecom retail solutions.
The company, which employs 145 people, reported $28.1 million in revenue for the year ending December 2021.
Wipro's acquisition strategy
Since Thierry Delaporte took over as the CEO in July 2020, acquisitions have been one of the key strategies for Wipro.
In 2021, the company made its largest-ever acquisition of $1.45 billion by buying financial consulting firm Capco.
“CAS Group acquisition is yet another step in Wipro’s transformation journey toward becoming a sought-after strategic partner for clients’ most complex business transformation needs,” the company said in the statement.
Philippe Dintrans, Senior Vice President & Global Head, Domain & Consulting, Wipro Limited, said, “Their long-standing strategic partnerships with some of the largest communications service providers, combined with deep expertise in large scale transformation projects, will allow us to achieve a significant competitive advantage in this high-growth sector.”
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