BENGALURU: IT major Wipro has been making significant investments - both organic and inorganic.
In April alone, it acquired two companies - Convergence Acceleration Solutions (CAS), a US-based consulting and program management company for $80 million and Rizing, a global SAP consulting firm, for $540 million.
When asked about the IT company’s inorganic growth plan in FY23 during Q4 earnings conference, Thierry Delaporte, CEO and Managing Director, Wipro said, there is absolute focus on organic growth and that will not change. “Our M&A strategy is actually not focused on adding volume. It is acquisitions that are complementing our set of offerings and really allowing us to have a bigger play with our customers,” he said.
He added that they do not have a number to hit for the year (in terms of number of acquisitions), and that acquisitions bring “fabulous addition of consulting capabilities in some cases or domain expertise” to the company’s offerings.
Late last year, the company acquired Edgile, a cybersecurity firm, for $230 million and LeanSwift, a US-headquartered system integrator of Infor Products, for $21 million. One of the strategic acquisitions of Wipro is Capco, a global management and technology consultancy firm, and it has been one year since the IT major acquired the company.
“Capco has had a very healthy double-digit growth this year. They’re ahead of plan and together we have had over 60 synergy wins across markets,” the IT firm’s CEO said during the earnings call. Wipro has been making strategic deals, and Delaporte said, “We are looking at firms that have strong brand, not necessarily large firms.”
Wipro acquisitions in recent years
Bengaluru: Last year, the company acquired Edgile for $230 million and LeanSwift for $21 million. One of the strategic acquisitions of Wipro is Capco, a global management and technology consultancy firm.
ALSO WATCH |