Wipro to buy unit of American Management Systems
Tuesday, 12 November 2002, 20:30 IST
Printer Print Email Email
BANGALORE: Wipro Limited (NYSE: WIT) announced Tuesday that it entered into a definitive agreement to acquire the global energy practice of American Management Systems (NASDAQ: AMSY), for $26 million. The global energy practice of the U.S.-based technology consulting firm has a team of 90 domain experts and consultants across the United States and Europe. The acquisition brings to Wipro more than 50 clients and ongoing projects for 15 customers, the statement said. This move strengthens Wipro’s IT service offerings in the Energy and Utility space. Wipro’s Energy & Utilities practice has been growing rapidly in the last few years with 1000 consultants servicing clients across USA and Europe in both regulated and de-regulated markets. The acquisition brings to Wipro more than 50 client relationships with 15 active engagements across Europe and the USA. Sudip Banerjee, president, Enterprise Solutions, Wipro Technologies, said, “This acquisition enhances our ability to deliver end-to-end IT solutions for players in the energy and utilities space, bolstered by a Global Delivery Model. The cultural fit for us with global energy practice is tremendous, we share the same commitment to excellence in solution delivery and providing world class solutions.” This acquisition builds on Wipro Technologies’ existing Energy & Utilities practice by adding value on several dimensions. It brings strong domain expertise, substantial intellectual capital, strategic vendor relationships and senior level management with industry experience in this space. Tim Matlack, currently Senior Vice President, global energy practice of AMS will lead the combined Energy & Utilities practice of Wipro Technologies. Tim said, “This is an exciting opportunity for the global energy practice staff, who have worked very hard to build strong capabilities and can now leverage the significant global assets and presence of Wipro. We see ourselves as being able to offer expanded services to our current clients and augment the services that Wipro can offer to its current customers.”
Source: IANS
siliconindia