Wipro to acquire Appirio

Country’s third largest IT firm Wipro has acquired cloud services company Appirio for $500 Million (around Rs 3,340 crore) in a cash transaction. Once completed, Wipro acquisition of Appirio will create one of the world’s largest cloud transformation practices, a game changer in todays as a service and digital economy.

Post-acquisition, Wipro will also have access to Topcoder, a crowd sourcing marketplace connecting over a million designers, developers and data scientists around the world with customers. Wipro will consolidate its existing cloud applications practices of Salesforce and Workday under the Appirio brand and structure.

Established in 2006, the US based Appirio has offices in Jaipur, San-Francisco, Dublin, London and Tokyo and has 1,250 employees worldwide. It had revenues of $196 Million in 2015 and its clients include brands like Stryker, Robert Half, Johnson Controls, Cardinal Health, Coco-cola, eBay, Facebook, Home Depot, and Sony PlayStation.

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. The acquisition is expected to be closed in the quarter ending 31 December 2016. William Blair & Company acted as financial advisor to Appirio during the transaction.