IT consulting and business process services specialist Wipro has announced the acquisition of Convergence Acceleration Solutions (CAS Group) for $80 million.
The US-based consulting and program management company specialises in driving large-scale business and technology transformation for Fortune 100 communications service providers.
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Indian multinational Wipro will reportedly pay $50 million upfront for the business, with an allocated contingent consideration of $30 million to be payable over three years.
In an announcement, the company said CAS Group’s deep-rooted client relationships and strong domain expertise will be combined with its capabilities to deliver an end-to-end professional services solution, providing services ranging from strategy development and planning to execution and implementation.
“CAS Group brings to Wipro a uniquely complementary set of capabilities,” explained Philippe Dintrans, Senior Vice President & Global Head, Domain & Consulting, Wipro Limited. “Their long-standing strategic partnerships with some of the largest communications service providers, combined with deep expertise in large scale transformation projects, will allow us to achieve a significant competitive advantage in this high-growth sector.
“As we continue to execute on our ambitious growth agenda, we are thrilled to welcome CAS Group as the latest addition to the Wipro family and look forward to bringing our full strength to clients.”
Founded in 2007, CAS Group provides strategic transformation programs across 17 centres of service – including mobile, business and fibre optic services, as well as cable, data, and telecom retail solutions.
The firm’s range of solutions includes operation support system (OSS) and business support system (BSS) transformation, application modernisation, broadband infrastructure services, and telco network enablement of digital products – such as 5G, IoT, and Network as a Service.
CAS Group CEO Jason McAleer said the acquisition will now enable the business to offer clients a broader set of solutions to help drive their digital transformation.
“As we embark on the next phase of our growth journey, we are excited to bring our clients a broader set of solutions that will empower them to realize their transformation goals,” he said.
“We are extremely proud of our team and thankful to our clients who made our remarkable success possible. Joining Wipro will allow us to deliver our unique and specialised set of capabilities at a global scale, bringing more value, more insights, and the strength of one of the world’s largest technology services companies to our clients and employees.”
