Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading
information technology, consulting and business process services
company, today announced that it has signed a definitive agreement
to acquire Appirio, a global cloud services company that creates
next generation worker and customer experiences, for a purchase
consideration of USD 500 Million.
Established in 2006, Appirio is headquartered in Indianapolis
with offices in San Francisco, Dublin, London, Jaipur, and Tokyo
and has 1250 employees worldwide. Appirio is a trusted 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 Officer
& Member of the Board, Wipro Limited. Wipro will
consolidate its existing cloud applications practices of Salesforce
and Workday under the Appirio brand and structure. Chris Barbin,
Chief Executive Officer of Appirio, will lead the expanded
business.
“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 Officer of Appirio. “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.”
“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 Officer, 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.”
“As one of our earliest partners, Appirio has played a key role
in the Workday Community, and we’re thrilled to see such a great
opportunity for the team’s continued growth,” said Aneel Bhusri,
Co-founder and Chief Executive Officer, Workday. “With Appirio,
Wipro gains an organization with deep industry expertise and a
strong commitment to customer service, dedicated to helping
companies take their businesses to the cloud.”
The acquisition is subject to customary closing conditions and
regulatory approvals and is expected to be closed in the quarter
ending December 31, 2016. William Blair & Company acted as
financial advisor to Appirio during the transaction.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading
information technology, consulting and business process services
company that delivers solutions to enable its clients do business
better. Wipro delivers winning business outcomes through its deep
industry experience and a 360-degree view of “Business through
Technology.” By combining digital strategy, customer centric
design, advanced analytics and product engineering approach, Wipro
helps its clients create successful and adaptive businesses. A
company recognized globally for its comprehensive portfolio of
services, strong commitment to sustainability and good corporate
citizenship, Wipro has a dedicated workforce of over 170,000,
serving clients across 6 continents. For more information, please
visit www.wipro.com.
About Appirio
Appirio is a global services company that helps customers create
next-generation Worker and Customer Experience using the latest
cloud technologies. Our free-thinking consultants deliver unmatched
customer value by creating actionable strategies, delivering
results quickly, and helping organizations adapt to a new
experience-driven era. We do this by harnessing the power of one of
the world’s largest crowdsourcing communities and thousands of
pre-built solution accelerators. Appirio is a trusted partner to
some of the world’s largest brands, including Stryker, Robert Half,
Johnson Controls, Cardinal Health, Coca-Cola, eBay, Facebook, Home
Depot, and Sony PlayStation.
Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth
prospects are forward-looking statements, which involve a number of
risks, and uncertainties that could cause actual results to differ
materially from those in such forward-looking statements. The risks
and uncertainties relating to these statements include, but are not
limited to, risks and uncertainties regarding fluctuations in our
earnings, revenue and profits, our ability to generate and manage
growth, intense competition in IT services, our ability to maintain
our cost advantage, wage increases in India, our ability to attract
and retain highly skilled professionals, time and cost overruns on
fixed-price, fixed-time frame contracts, client concentration,
restrictions on immigration, our ability to manage our
international operations, reduced demand for technology in our key
focus areas, disruptions in telecommunication networks, our ability
to successfully complete and integrate potential acquisitions,
liability for damages on our service contracts, the success of the
companies in which we make strategic investments, withdrawal of
fiscal governmental incentives, political instability, war, legal
restrictions on raising capital or acquiring companies outside
India, unauthorized use of our intellectual property, and general
economic conditions affecting our business and industry. Additional
risks that could affect our future operating results are more fully
described in our filings with the United States Securities and
Exchange Commission. These filings are available at www.sec.gov. We
may, from time to time, make additional written and oral
forward-looking statements, including statements contained in the
company’s filings with the Securities and Exchange Commission and
our reports to shareholders. We do not undertake to update any
forward-looking statement that may be made from time to time by us
or on our behalf.
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version on businesswire.com: http://www.businesswire.com/news/home/20161020005927/en/
Wipro LimitedVipin Nairvipin.nair1@wipro.com
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