Wipro Ltd (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading information technology, consulting and outsourcing company based in Bangalore, India, said it agreed to acquire global cloud services company Appirio, for $500 Million.
Established in 2006, Appirio is headquartered in Indianapolis with offices in San Francisco, Dublin, London, Jaipur, and Tokyo and has 1,250 employees worldwide.
Appirio is a partner to some of the world’s leading brands, including Stryker, Robert Half, Johnson Controls, Cardinal Health, Coca-Cola, eBay, Facebook, Home Depot, and Sony PlayStation.
Once completed, Wipro’s acquisition of Appirio will create one of the world’s largest cloud transformation practices, a game changer in today’s as-a-service and digital economy. Appirio also brings to Wipro, Topcoder, a leading crowdsourcing marketplace connecting over a million designers, developers and data scientists around the world with customers.
“In an increasingly digital world, as consumer behaviors and expectations continue to be reshaped by experiences, companies are recognizing that they need to transform how they engage with customers and employees by leveraging the power of Cloud. Appirio and Wipro are coming together to unlock transformational synergies in the applications space and help enterprises create new business models,” said Abidali Z. Neemuchwala, chief executive of Wipro.
Wipro has a workforce of over 170,000, serving clients across 6 continents.
“When you combine Wipro’s global scale and deep digital focus with Appirio’s transformative worker and customer experience expertise, and best in class team, brand, and partners, you create a formidable force in the industry,” said Chris Barbin, chief executive of Appirio, who will lead the expanded business.
Wipro will consolidate its existing cloud applications practices of Salesforce and Workday under the Appirio brand and structure.
“Chris and his team have spent the last decade building Appirio into a global leader delivering amazing customer experiences with Salesforce,” said Marc Benioff, chairman and chief executive of Salesforce. “I couldn’t be more proud of Appirio as it joins Wipro, where together they will continue to drive customer success on a much larger scale.”
The deal is subject to customary closing conditions and regulatory approvals and is expected to be closed in the quarter ending December 31, 2016. William Blair & Co. acted as financial advisor to Appirio.