Harte Hanks (NYSE:HHS), a leader in developing customer
relationships, experiences and interaction-led marketing, today
announced Wipro LLC (a wholly owned subsidiary of Wipro Limited)
would make a $9.9 million-dollar investment in the company and the
companies announced a joint go-to-market strategy to bring combined
marketing and marketing technology services to large global brands.
Harte Hanks and Wipro jointly issued a separate press release today
on this go-to-market initiative.
To be effective, marketers need to deeply
understand their customers, which requires investments in marketing
tools and technology. By bundling marketing and technology
solutions, Harte Hanks and Wipro will offer integrated solutions,
which address marketing needs in a holistic manner.
As part of the transaction, Wipro will receive
preferred stock convertible into 16% of the Company’s outstanding
Common Stock on a pre-closing basis, priced at $0.991 per share of
Common Stock (based on a ten-day average closing price of the
underlying Common Stock). Along with customary protective
provisions and a 5% dividend (payable upon liquidation events),
Wipro will be able to designate an observer or director to Harte
Hanks’ board of directors. The transaction is expected to
close in approximately one week.
Karen Puckett, Harte Hanks’ Chief Executive Officer
said, “Since announcing our joint go-to-market strategy in March,
it has become clear that the opportunity to help customers to more
effectively utilize marketing technology combined with providing
consulting and strategy is sizable and valued in the marketplace.
With this investment, Harte Hanks will formalize its relationship
with Wipro and step up our combined go-to-market efforts.”
"Wipro’s investment in Harte Hanks reflects our
continued commitment to offer leading-edge marketing technology and
digital services that cater to the needs of Chief Marketing
Officers and marketing professionals, across industry segments.
This investment strengthens our existing partnership with Harte
Hanks and enables us to address a key industry challenge
by offering ‘Marketing as a Service’,” said Srini Pallia,
President, Consumer Business Unit, Wipro Limited.
About Harte Hanks:Harte Hanks is a global
marketing services firm specializing in multi-channel marketing
solutions that connect our clients with their customers in powerful
ways. Experts in defining, executing and optimizing the customer
journey, Harte Hanks offers end-to-end marketing services including
consulting, strategic assessment, data, analytics, digital, social,
mobile, print, direct mail and contact center. From visionary
thinking to tactical execution, Harte Hanks delivers smarter
customer interactions for some of the world's leading brands. Harte
Hanks’ 5,000+ employees are located in North America, Asia-Pacific
and Europe. For more information, visit Harte Hanks at
www.hartehanks.com, call 800-456-9748, email us at
pr@hartehanks.com. Follow us on Twitter @hartehanks or Facebook at
https://www.facebook.com/HarteHanks.
As used herein, “Harte Hanks” refers to Harte Hanks, Inc. and/or
its applicable operating subsidiaries, as the context may require.
Harte Hanks’ logo and name are trademarks of Harte Hanks.
About Wipro LimitedWipro
Limited (NYSE:WIT) (BSE:507685) (NSE:WIPRO) is a leading global
information technology, consulting and business process services
company. We harness the power of cognitive computing,
hyper-automation, robotics, cloud, analytics and emerging
technologies to help our clients adapt to the digital world and
make them successful. A company recognized globally for its
comprehensive portfolio of services, strong commitment to
sustainability and good corporate citizenship, we have over 160,000
dedicated employees serving clients across six continents.
Together, we discover ideas and connect the dots to build a better
and a bold new future.
Media Contacts:
Scott HamiltonHarte
Hanksscott.hamilton@hartehanks.com
Subhashini PattabhiramanWipro
Limitedsubhashini.pattabhiraman@wipro.com
Harte Hanks Cautionary Note Regarding Forward-Looking
Statements:Our press release may contain “forward-looking
statements” within the meaning of U.S. federal securities
laws. All such statements are qualified by this cautionary
note, provided pursuant to the safe harbor provisions of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Statements other than historical facts
are forward-looking and may be identified by words such as “may,”
“will,” “expects,” “believes,” “anticipates,” “plans,” “estimates,”
“seeks,” “could,” “intends,” or words of similar meaning.
These forward-looking statements are based on current information,
expectations and estimates and involve risks, uncertainties,
assumptions and other factors that are difficult to predict and
that could cause actual results to vary materially from what is
expressed in or indicated by the forward-looking statements.
In that event, our business, financial condition, results of
operations or liquidity could be materially adversely affected and
investors in our securities could lose part or all of their
investments. These risks, uncertainties, assumptions and
other factors include: (a) local, national and international
economic and business conditions, including (i) market conditions
that may adversely impact marketing expenditures and (ii) the
impact of economic environments and competitive pressures on the
financial condition, marketing expenditures and activities of our
clients and prospects; (b) the demand for our products and services
by clients and prospective clients, including (i) the willingness
of existing clients to maintain or increase their spending on
products and services that are or remain profitable for us, and
(ii) our ability to predict changes in client needs and
preferences; (c) economic and other business factors that impact
the industry verticals we serve, including competition and
consolidation of current and prospective clients, vendors and
partners in these verticals; (d) our ability to manage and timely
adjust our facilities, capacity, workforce and cost structure to
effectively serve our clients; (e) our ability to improve our
processes and to provide new products and services in a timely and
cost-effective manner through development, license, partnership or
acquisition; (f) our ability to protect our facilities against
security breaches and other interruptions and to protect sensitive
personal information of our clients and their customers; (g) our
ability to respond to increasing concern, regulation and legal
action over consumer privacy issues, including changing
requirements for collection, processing and use of information; (h)
the impact of privacy and other regulations, including restrictions
on unsolicited marketing communications and other consumer
protection laws; (i) fluctuations in fuel prices, paper prices,
postal rates and postal delivery schedules; (j) the number of
shares, if any, that we may repurchase in connection with our
repurchase program; (k) unanticipated developments regarding
litigation or other contingent liabilities; (l) the ability to
integrate and successfully leverage newly-acquired service
offerings as anticipated; (m) our ability to complete anticipated
divestitures and reorganizations; and (n) other factors discussed
from time to time in our filings with the Securities and Exchange
Commission, including under “Item 1A. Risk Factors” in our Annual
Report on Form 10-K for the year ended December 31, 2016 and in our
Quarterly Report on Form 10-Q for the three and nine months ended
September 30, 2017. The forward-looking statements in this
press release and our related earnings conference call are made
only as of the date hereof and we undertake no obligation to update
publicly any forward-looking statement, even if new information
becomes available or other events occur in the future.
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