Wipro to acquire IT consulting firm Applied Value Technologies for $40 million

Wipro has been on an acquisition spree in 2024 (Representative image)

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Wipro is set to acquire Massachusetts-headquartered IT services consulting firm Applied Value Technologies (AVT) for $40 million to augment its existing application services capabilities, coming at a time when the IT services major is in the midst of its business turnaround.

The all-cash transaction is expected to be completed by December 31, 2024, according to regulatory filings on BSE.

“AVT helps enterprises transform IT operations through a highly customized and data-driven approach. AVT will augment Wipro’s existing application services capabilities, helping drive new growth opportunities,” Wipro said in the filing.

Purchase consideration of up to $40 million will be subject to customary closing adjustments as per terms of the purchase agreement. “The purchase consideration includes a deferred consideration in the form of earn out, payable subject to achievement of certain performance metrics / conditions.”

AVT has several subsidiaries founded between 2021 and 2022 across Massachusetts, Singapore and Netherlands. These companies provide enterprise applications development and support services for global clientele.

The consolidated revenue of AVT for the last three calendar years stood at $0.8 million in CY21; $8.7 million in CY22 and $19.4 million CY23.

Wipro has been on an acquisition spree in 2024. Earlier this year, the company had acquired a 27 percent stake in SDVerse, an automotive software marketplace platform with General Motors and Magna for $5.85 million, followed by 60 percent acquisition of US-based insurtech company Aggne Global for $66 million.

In the company’s annual report, Wipro CEO Srinivas Pallia had said that the company has built a strong, global, and diverse team having made bold acquisitions such as Capco and Rizing over the years. And it will continue to do strategic acquisitions to enhance domain expertise.