BENGALURU: Wipro Ltd on Wednesday announced that it has signed an agreement with Landesbank Baden-Wuerttemberg (LBBW) to acquire cellent AG for 73.5 million Euros (nearly Rs 518 crore).
Cellent AG is an IT consulting and software services company and has been offering holistic innovative IT solutions and services to its customers in the DACH region of Germany, Austria and Switzerland for the past 14 years. cellent AG serves the DACH region with a team of over 800 consultants who will now become part of Wipro, a statement from Wipro said.
The DACH market is a strategic growth and investment region for Wipro. This acquisition will provide Wipro with significant scale and prime customer relationships, especially in the Manufacturing and Automotive domains, which are key industry sectors in the DACH region.
“Cultural synergies and locational proximity are key to building successful customer relationships. cellent is a well-established player with marquee customers, a well-known brand and has strong local talent. cellent will boost our footprint in the DACH region, especially in the manufacturing and automotive domains,” said NS Bala, Chief Executive - Manufacturing and Hi-Tech, Wipro Limited.