Wipro to acquire Germany’s cellent AG for Rs 518 crore

By: | Published: December 2, 2015 7:45 PM

Country's third largest software services firm Wipro today said it will acquire German IT consulting firm cellent AG for 73.5 million euros (about Rs 518 crore).

Wipro Cellent AG acquisitionThe all-cash deal, in which Wipro will acquire cellent AG, is expected to close in the March 2016 quarter, company said in a filing to the BSE.

Country’s third largest software services firm Wipro today said it will acquire German IT consulting firm cellent AG for 73.5 million euros (about Rs 518 crore).

The all-cash deal is expected to close in the March 2016 quarter, Wipro said in a filing to the BSE.

“Wipro has signed an agreement with Landesbank Baden- Wuerttemberg (LBBW) to acquire cellent AG for 73.5 million euros… The shares are being acquired through Wipro’s subsidiary Wipro Cyprus,” it said.

The acquisition will provide Wipro with significant scale in the DACH region (Germany, Austria and Switzerland) and prime customer relationships, especially in the manufacturing and automotive domains, Wipro Chief Executive Manufacturing and Hi-Tech NS Bala said.

Founded in 2002 in Germany, cellent (a subsidiary of LBBW) has offices in Germany (eight), Austria (two) and Switzerland (one). Its service portfolio includes SAP consulting, software development, managed services and infrastructure services.

The privately-held company had revenues of 87 million euros in 2014 and has over 800 consultants.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition