Wipro, an Indian multinational firm, has successfully purchased Convergence Acceleration Solutions, LLC, a program management and consulting company based in the U.S.
Under this acquisition, Wipro will be paying a contingent consideration of $30 million and an upfront consideration of around $50 million, to be payable in 3 years.
For those unaware, CAS (Convergence Acceleration Solutions) specializes in robust large-scale business and technology transformation for Fortune 100 communications service providers.
According to Wipro, CAS Group’s long-term relationship with clients and robust domain expertise, coupled with Wipro’s capabilities in execution, will deliver end-to-end professional service solutions and immediate impact on clients.
Moreover, the combined establishment will offer clients services ranging from strategy development and planning to implementation and execution.
Philippe Dintrans, Senior Vice President & Global Head, Domain & Consulting at Wipro, said that the long-lasting strategic partnerships of CAS Group with deep proficiency in large-scale transformation projects would empower Wipro to reach a substantial competitive advantage in the high-growth sector.
Commenting on the move, CAS Group CEO John McAleer said that collaborating with Wipro will empower the firm to deliver its specialized and exclusive set of capabilities at a global scale, fetching more insight, more value, and the forte of one of the leading technology services companies to the employees and clients.
CAS Group, established in 2007, delivers strategic transformation programs to clients around 17 service centers, including business, mobile/ wireless, fiber-optic services, and data, cable, and retail telecom solutions.
Its broad range of services includes business support system (BSS) and operational support system (OSS) transformation, broadband infrastructure services, application modernization, and telco network enablement of digital products, like 5G, Network as a Service, and Internet of Things (IoT).
Furthermore, CAS Group is held privately and employs around 145 professionals. Its revenue stood at $28.1 million, $21 million, and $20.1 million in 2021, 2020, and 2019 respectively.
Source Credit - https://www.businesstoday.in/industry/it/story/wipro-acquires-us-based-consulting-firm-convergence-acceleration-solutions-329453-2022-04-11