Wipro gains after Wipro Digital acquires a design firm, Designit

Wipro rose 1.44% to Rs 551.50 at 10:00 IST on BSE after Wipro Digital, its digital business unit, intends to acquire Designit, an award winning and global strategic design firm specializing in designing transformative product-service experiences.

The company made announcement after trading hours yesterday, 9 July 2015.

Meanwhile, the S&P BSE Sensex was up 121.34 points or 0.44% at 27,695.

On BSE, so far 16,285 shares were traded in the counter as against average daily volume of 1.38 lakh shares in the past one quarter.

The large-cap IT services provider hit a high of Rs 554.35 and a low of Rs 548.10 so far during the day. The stock hit a 52-week high of Rs 676.90 on 11 March 2015. The stock hit a 52-week low of Rs 512.55 on 24 April 2015.

Wipro said this investment marks a further stage in Wipro's move to evolve the digital offer it takes to market, combining its reputation and heritage in deep engineering and transformative technology with human centered-design methods.

Designit's capabilities and proven record in strategic design, user experience (UX), interaction design (IxD) and product innovation result in meaningful product-service experiences that help people live smarter, healthier and more productive lives. Designit's expertise in experience-driven design complements Wipro Digital's capabilities in technology, digital strategy, design, and digital architecture. Together, the two organizations become a comprehensive and scalable global digital transformation partner for the entire C-suite, helping to improve customer experience while radically digitizing business operations, Wipro said in a statement.

Since its founding in 1991 in Aarhus, Denmark, Designit has become one of the world's largest, privately-held design firms. Employing more than 300 people in nine offices globally, it delivers transformative product-service experiences for some of the world's most innovative brands in healthcare, telecom, banking, automotive, and retail.

The acquisition is subject to customary closing conditions and regulatory approvals and is expected to be closed in the current quarter.

On a consolidated basis, Wipro's net profit rose 3.61% to Rs 2272 crore on 1.03% rise in total income to Rs 12719 crore in Q4 March 2015 over Q3 December 2014.

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