Wipro Buys US Integrator

BANGALORE, India -- Wipro Limited (NYSE:WIT - News), today announced that it has signed a definitive agreement to acquire cMango Inc., a Sunnyvale, California, U.S.-headquartered company in an all cash deal. cMango has multiple offices in the U.S. as well as offices in the UK, Singapore and a Delivery center in Pune, India. Under the terms of the agreement, the consideration to acquire 100% stake in privately held cMango includes cash payment of $20 Mn on closure of the transaction as well as earn-outs based on achieving targeted financial metrics over a two year period. cMango, a company focused on Business Service Management (BSM) Solutions, has annualized revenue of around $13 Mn. cMango will be part of the Technology Infrastructure Services (TIS) Service-line of Wipro Technologies, a leader in remote infrastructure services. Wipro Technologies is the Global IT division of Wipro Ltd.

cMango creates business solutions for customers using the right combination of People, Process and Technology. cMango's services comprise business transformation, ITIL consulting, service management solution architecture, implementation, training and support services. cMango leverages the industry's top BSM solutions from BMC® Software Inc. (NYSE:BMC - News) such as BMC Remedy, BMC Marimba and other complementary technologies. In addition to being a BSM Certified Partner, cMango is a BMC Value Added Reseller, Systems Integrator and Technical Support and Training Partner for BMC. cMango is also a BMC Managed Services Partner.

Commenting on the transaction, Pravin Jain, CEO, cMango said, "The cMango team is delighted to join the Wipro family. This partnership brings together the specialized expertise of cMango in BMC's BSM solutions and Wipro's wide range of services and extended global reach. We are confident that this winning combination can significantly expand the market addressed and provide superior customer solutions, emerging as the leader in the BSM space."

The acquisition is in line with Wipro's strategy to invest in areas where it can establish leadership through differentiated service lines and domain knowledge. Wipro is the leader amongst offshore Infrastructure Management Services players and has a track record of rapid growth in its Technology Infrastructure Services business (last quarter growth rate was 45% Year on Year and 16% sequential), and expects this acquisition to help scale growth in this area.

Wipro Ltd.