M&A

M&A

Wipro acquires IT Services focused Applied Value Tech for $40-M

BSE Disclosure  

Wipro is to acquire a 100% shareholding in Applied Value Technologies, Inc ., Applied Value Technologies B.V. and Applied Value Technologies Pte Limited, for USD 40 million.Founded in 2021, Applied Value Technologies is headquartered in Massachusetts, USA, while Applied Value Technologies Pte Ltd is headquartered in Singapore. Applied Value Technologies B.V., founded a year later, is headquartered in the Netherlands. These companies provide enterprise application development and support services for a global clientele. Its consolidated revenue for the last three completed years, ending December 31, was USD 0.8 million in 2021, USD 8.7 million in 2022 and USD 19.4 million in 2023.