Indian IT giant Wipro has signed a definitive agreement to acquire the Digital Transformation Solutions (DTS) business unit of Harman, a Samsung company, for a cash consideration of $375 million. The strategic acquisition is designed to significantly accelerate Wipro’s capabilities in providing next-generation engineering research and development (ER&D) services, a key growth area for the company.
The DTS business unit of Harman is a global leader in providing digital engineering services to customers across various industries, including automotive, consumer electronics, and industrial manufacturing. By acquiring this unit, Wipro will gain a large team of skilled professionals, deep domain expertise, and a portfolio of cutting-edge solutions and intellectual property. The acquisition will allow Wipro to deliver more comprehensive and integrated digital engineering services, from product design and development to connected solutions and Internet of Things (IoT) applications.
This deal is a major step for Wipro in its ambition to become a dominant player in the global ER&D market, which is experiencing rapid growth as companies increasingly invest in digital transformation. The acquisition of Harman’s DTS business, with its strong reputation and customer base, is expected to provide Wipro with a competitive advantage and help it secure larger, more complex contracts. The transaction is subject to customary closing conditions and regulatory approvals.
Key Highlights:
- Wipro has agreed to acquire the Digital Transformation Solutions (DTS) business unit of Harman for $375 million.
- The acquisition is aimed at boosting Wipro’s capabilities in the engineering research and development (ER&D) services market.
- By integrating Harman’s DTS business, Wipro will gain a team of experts and a portfolio of solutions in key sectors like automotive and consumer electronics.
- The deal is a strategic move to accelerate Wipro’s growth in the digital engineering space and expand its service offerings.