Wipro to acquire cloud services company Appirio for $500 mn

Wipro has signed a definitive agreement to acquire Appirio, a global cloud services company that creates next generation worker and customer experiences for a purchase consideration of $500 million.

Established in 2006, Appirio has 1,250 employees worldwide and is a trusted partner to some of the worlds leading brands, including Stryker, Robert Half, Johnson Controls, Cardinal Health, Coca-Cola, eBay, Facebook, Home Depot and Sony PlayStation.

Once completed, Wipros acquisition of Appirio will create one of the worlds largest cloud transformation practices. Appirio also brings to Wipro, Topcoder, a leading crowdsourcing marketplace that connects over a million designers, developers and data scientists around the world with customers.

"Appirio and Wipro are coming together to unlock transformational synergies in the applications space and help enterprises create new business models," said Abidali Z Neemuchwala, chief executive officer & member of the board, Wipro.

Wipro will consolidate its existing cloud applications practices of Salesforce and Workday under the Appirio brand and structure. Chris Barbin, chief executive officer of Appirio, will lead the expanded business.

"When you combine Wipros global scale and deep digital focus with Appirios transformative worker and customer experience expertise, and best in class team, brand, and partners, you create a formidable force in the industry," said Chris Barbin, chief executive officer, Appirio.

"Together, our aim is to dominate the market and claim the top spots in industry Net Promoter Score, market share, and best places to work," added Barbin.

The acquisition is subject to customary closing conditions and regulatory approvals and is expected to be closed in the quarter ending December 31, 2016. William Blair & Company acted as financial advisor to Appirio during the transaction.