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Wipro acquires IT services firm CAS Group, deal valued up to $80 million

IT Staffing Report

Wipro acquires IT services firm CAS Group, deal valued up to $80 million

May 2, 2022
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IT services giant Wipro Ltd. (NYSE: WIT) acquired Convergence Acceleration Solutions LLC, a Roswell, Georgia-based consulting and program management company.

The deal calls for Wipro to pay $50 million up front and another $30 million in contingent consideration payable over the next three years for a total of up to $80 million.

CAS Group, founded in 2007, delivers strategic transformation programs to clients across 17 centers of service including mobile/wireless, business and fiber-optic services, as well as cable, data and telecom retail solutions.

“CAS Group brings to Wipro a uniquely complementary set of capabilities,” said Philippe Dintrans, senior vice president and global head of domain and consulting for Wipro Ltd. “Their long-standing strategic partnerships with some of the largest communications service providers, combined with deep expertise in large-scale transformation projects, will allow us to achieve a significant competitive advantage in this high-growth sector.”

CAS Group had revenue of $28.1 million in its last fiscal year ended Dec. 31, 2021. It has 145 employees.