Wipro to Acquire Harman Connected Services Inc. for US$375 Million

Wipro Ltd, through its subsidiaries, has signed a definitive agreement to acquire 100% shareholding in Harman Connected Services Inc. and its subsidiaries and certain other assets from Harman International Industries, Inc. The acquisition is expected to be completed by December 31, 2025. DTS, the acquired entity, is a global provider of ER&D and IT services, specializing in Embedded Software, Digital Engineering, Design Thinking, Device Engineering, Cloud & Infra services, Data Analytics & AI, Enterprise Automation, and Customer products/line of business in the Industrial, Hi-Tech, Communication Software, and Healthcare & Life Sciences sectors. It has more than 5,600 employees in 14 countries, including India, US, South Korea, UK, Poland, and Germany. The consolidated revenue for the last 3 completed years (for the period ended 31 December) is USD 315.0 Mn (CY22), USD 308.2 Mn (CY23), and USD 314.5 Mn (CY24).