Wipro gains on signing agreement to acquire 4C

Wipro rose 0.52% to Rs 268 after the company announced that it has signed a definitive agreement to acquire 4C, one of the largest Salesforce partners in UK, Europe and the Middle East.

Shares of Wipro traded in the range of Rs 265.70 and Rs 271 so far during the day.

The acquisition is subject to customary closing conditions and is expected to be closed in the quarter ending September 30, 2020. The announcement was made after market hours yesterday (23 July 2020).

This acquisition significantly strengthens Wipro's position as a leading provider of Salesforce solutions in these markets. Wipro has a well-established Salesforce business in the Americas, Japan and Australia which was reinforced with the Appirio acquisition in 2016. 4C will be consolidated as part of Wipro's Salesforce practice, which provides market leading solutions globally around multiple Salesforce clouds and its ecosystem of products.

Headquartered in Mechelen, Belgium, 4C is an independent Salesforce Platinum Partner and one of the leading customer-centric consultancies in Europe and the Middle East.

Wipro is a leading global information technology, consulting and business process services company.

Powered by Capital Market - Live News