Wipro buys Germany’s cellent AG for Rs 520 crore | business | Hindustan Times
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Wipro buys Germany’s cellent AG for Rs 520 crore

business Updated: Dec 03, 2015 12:04 IST
HT Correspondent
HT Correspondent
Hindustan Times
Wipro

Wipro said the deal will also help the company acquire prime customer relationships, especially in the manufacturing and automotive industry sectors.(File Photo)

India’s third-largest information technology company Wipro has bought Germany’s cellent AG for $78 million (Rs 520 crore), gaining access to the markets in Germany, Austria and Switzerland, a clutch of premium clients in the manufacturing sector and an 800-strong German-speaking workforce.

Cellent AG is an IT consulting and software services company in the field of SAP and infrastructure services and is expected to add strength to Wipro’s existing capabilities in these areas.

Wipro said the deal will also help the company acquire prime customer relationships, especially in the manufacturing and automotive industry sectors like Daimler AG, makers of German luxury car Mercedes-Benz, and lens maker Carl Zeiss AG, both well-known brands in India too.

The deal between Wipro and the cellent’s current owner Landesbank Baden-Wuerttemberg is expected to be completed by end of the current financial year.

“Cultural synergies and locational proximity are key to building successful customer relationships. cellent is a well-established player with marquee customers, a well-known brand and has strong local talent. Cellent will significantly boost our footprint in the DACH region, especially in the manufacturing and automotive domains,” said NS Bala, chief executive - manufacturing and hi-tech, Wipro Limited.

This is Wipro’s second purchase in the same market this year. The company had bought Denmark-based Designit for $95 million (Rs 635 crore) in July to strengthen its presence in the digital space.

Last reported full year income of cellent was Rs 614 crore ($92 million) in 2014.