Indian IT services company Wipro Ltd has agreed to acquire the Digital Transformation Solutions (DTS) business of U.S.-based Harman International for $375 million, expanding its engineering and artificial-intelligence-led service portfolio. Wipro said the DTS unit—also known as Harman Connected Services—will be folded into its global engineering business line once the transaction clears regulatory review, a process the companies expect to complete by year-end. More than 5,600 DTS employees across the Americas, Europe and Asia are slated to join Wipro, deepening the Bengaluru-based firm’s talent pool in cloud, software engineering and product design. Harman, a subsidiary of Samsung Electronics, said divesting DTS will allow it to focus on its core automotive electronics and audio operations. Market participants described the acquisition as a significant step for Wipro’s strategy to deliver end-to-end, AI-powered engineering services; the company’s shares traded choppily following the announcement as analysts assessed the potential earnings impact.
#MarketsWithBS | #Wipro shares volatile on $375 mn HARMAN DTS acquisition; analysts weigh in Details here https://t.co/drvfeRvcOp @GuptaSirali #Markets #sharemarket #StockMarket #StockMarketUpdate
Over 5,600 DTS employees will transition to Wipro at the end of the transaction. The deal is still subject to regulatory approvals and is expected to close by the end of the year. @theSethu reports: https://t.co/B5TZWTJvVy https://t.co/ykf3pCpZEQ
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