India’s third largest IT services company Wipro Limited said it has agreed to acquire U.S.-based cloud services company Appirio for a consideration of $500 million (about Rs.3,338 crore).
The deal is expected to be closed in the quarter ending December 31, 2016, according to a statement from the company.
Founded in 2006, Appirio is headquartered in Indianapolis with offices in San Francisco, Dublin, London, Jaipur, and Tokyo and has 1,250 employees worldwide. The company also counts world’s leading brands like Stryker, Coca-Cola, eBay, Facebook, among others as its partners.
“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 Officer and Member of the Board, Wipro Limited.
Appirio also brings to Wipro, Topcoder, crowd sourcing marketplace connecting over a million designers, developers and data scientists around the world with customers.
Wipro will consolidate its existing cloud applications practices of Salesforce and Workday under the Appirio brand and structure, according to the statement.
Mr. Chris Barbin, Chief Executive Officer of Appirio, will lead the expanded business. “Together, our aim is to dominate the market and claim the top spots in industry Net Promoter Score, market share, and best places to work,” said Chris Barbin,, Chief Executive Officer of Appirio.
