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Wipro acquires US-based consulting firm Convergence Acceleration Solutions

Wipro acquires US-based consulting firm Convergence Acceleration Solutions

Wipro will pay an upfront consideration of $50 million and contingent consideration of $30 million, to be payable over 3 years, for the acquisition of the company.

The joint entity will provide clients with services ranging from strategy development and planning to execution and implementation. The joint entity will provide clients with services ranging from strategy development and planning to execution and implementation.

IT company Wipro on Monday said it has acquired US-based consulting and program management company Convergence Acceleration Solutions, LLC.
 
Wipro will pay an upfront consideration of $50 million and contingent consideration of $30 million, to be payable over 3 years, for the acquisition of the company.
 
Convergence Acceleration Solutions (CAS) specialises in driving large-scale business and technology transformation for Fortune 100 communications service providers. "CAS Group's deep-rooted client relationships and strong domain expertise, combined with Wipro's execution capabilities will deliver an end-to-end professional services solution and immediate impact to clients," Wipro said in a release.
 
The joint entity will provide clients with services ranging from strategy development and planning to execution and implementation. 
 
Founded in 2007, CAS Group delivers strategic transformation programs to clients across 17 centers of service including mobile/ wireless, business, and fiber-optic services, as well as cable, data, and telecom retail solutions.
 
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Its range of services include operational support system (OSS) and business support system (BSS) transformation, application modernisation, broadband infrastructure services, and telco network enablement of digital products, such as 5G, Internet of Things (IoT), and Network as a Service, the release said.
 
CAS Group's long-standing strategic partnerships with some of the largest communications service providers, combined with deep expertise in large scale transformation projects, will allow Wipro to achieve a significant competitive advantage in the high-growth sector, said Philippe Dintrans, Senior Vice President & Global Head, Domain & Consulting at Wipro.
 
"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,"  CAS Group CEO John McAleer said.
 
CAS Group is privately held and has a workforce of 145 employees. Its revenue stood at $28.1 million in 2021, $21 million in 2020 and $20.1 million in 2019.
 
Shares of Wipro on Monday ended 2.16 per cent lower at Rs 571.20 on the BSE.

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Published on: Apr 11, 2022, 8:37 PM IST
Posted by: Vinay Rai, Apr 11, 2022, 8:31 PM IST