Wipro recently announced that it has acquired Convergence Acceleration Solutions (CAS), a US-based consultancy and program management firm that specializes in delivering large-scale business for Fortune 100 communications service providers.
According to the news statement, the acquisition would assist Wipro in driving large-scale business and technological transformation for customers. The arrangement entails acquiring 100 percent of the company’s shares for $50 million in cash and $30 million in contingent consideration payable over three years.
This is Wipro’s first acquisition in 2022. Late last year, the Bengaluru-based firm paid $230 million for cybersecurity startup Edgile and $21 million for consultancy firm LeanSwift. One of the top development methods is inorganic expansion, said Thierry Delaporte, Wipro’s Managing Director, and Chief Executive Officer.
CAS Group, which was created in 2007, provides clients with strategic transformation programs across 17 service centers, including mobile/wireless, business, and fiber-optic services, as well as cable, data, and telecom retail services.
The company is privately held and employs 145 people, with a revenue of $28.1 million for the year ended December 2021.
Wipro Limited is a global leader in information technology, consulting, and business process outsourcing. They use cognitive computing, hyper-automation, robots, cloud, analytics, and emerging technologies to assist their clients in adapting to and succeeding in the digital era.
For more information, visit https://www.wipro.com