IT major Wipro it will acquire US-based
International TechneGroup Incorporated for $45 million (around ₹312 crore).
International TechneGroup Incorporated (ITI)
provides Computer Aided Design and Product Lifecycle Management
interoperability software services. Founded in 1983 and headquartered in Ohio,
USA, ITI has offices in the UK, Italy, Israel and Germany.
ITI is privately held and has 130 employees as
of March 2019.
Its revenue stood at $ 23.2 million in FY’18
(year ending June 30).
The acquisition complements Wipro’s core
strengths in Industry 4.0 and will allow Wipro to offer end-to-end solutions in
Digital Engineering and Manufacturing
ITI’s offerings and solutions will be
consolidated as a part of Wipro’s industrial and engineering services business
and will function as a wholly-owned US subsidiary of the company.
