Acquisitions17 Dec 2024, 12:45 am
Wipro to Acquire Applied Value Technologies for Up to US$ 40Million
AI Summary
Wipro Ltd., through its subsidiaries, has signed a definitive agreement to acquire 100% shareholding in Applied Value Technologies, Inc., Applied Value Technologies B.V., and Applied Value Technologies Pte Limited. The acquisition is expected to be completed by December 31, 2024, with a purchase consideration of up to US$ 40Million, subject to customary closing adjustments. The acquisition aims to augment Wipro’s existing application services capabilities and drive new growth opportunities.
Key Highlights
- Wipro to acquire Applied Value Technologies for up to US$ 40Million
- Acquisition to augment Wipro’s existing application services capabilities
- Transaction expected to be completed by December 31, 2024
- Applied Value Technologies provides enterprise applications development and support services for global clientele
- Consolidated revenue for the last 3 completed years: USD 0.8 Mn (CY21), USD 8.7 Mn (CY22), and USD 19.4 Mn (CY23)