Wipro to buy Designit for Rs 595 crore   

Wipro to buy Designit for Rs 595 crore   

FPJ BureauUpdated: Saturday, June 01, 2019, 12:20 AM IST
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New Delhi : Wipro said it will acquire global strategic design firm Designit for 85 million euros (about Rs 595 crore), a move aimed at strengthening the digital services business of the country’s third largest software services company.      “Wipro Digital, the digital business unit of Wipro has announced its intention to acquire Designit. This investment marks a further stage in Wipro’s move to evolve the digital offer it takes to market,” Wipro said in a statement.

This would be the first acquisition by Wipro Digital, a business unit formed recently to tap into the digital oppotunities in the market.                The purchase consideration of 85 million euros includes a performance based contingent consideration payable over three years, it added.         The acquisition is subject to customary closing conditions and regulatory approvals and is expected to be closed in the current quarter.

The acquisition will add complementary capabilities which is crucial for digital transformation initiatives such as world-class strategic design talent, it added.               It also adds size (over 300 designers) and global reach (network of nine offices), Wipro said. Founded in 1991, Denmark-based Designit delivers transformative product-service experiences for brands in healthcare, telecom, banking, automotive, and retail sectors.

 “Our clients are looking to us to help them transform their businesses and move at the speed of digital. Solving these complex challenges starts with strategic design and fuses a human-centered method with innovative technology solutions delivered by multi-disciplinary teams of strategists, designers and engineers,” Wipro Digital Senior Vice President and Global Head Rajan Kohli said.

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