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News >> Technology >>
Wipro acquires U.S-based cMango for $20M
By agencies
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Tuesday, 21 February 2006, 20:30 IST
BANGALORE: Taking acquisitions as a strategy to move ahead, Wipro Technologies has acquired one more company, this time, the U.S.-based cMango Inc in all-cash deal.
As per the deal, Wipro will pay $20 million in cash as well as earn-outs based on achieving financial targets over a two-year period.
cMango, a technology infrastructure-consulting firm, with annualized revenues of $13 million, is focused on offering business service management (BSM) solutions from BMC Software Inc. BSM involves managing services offered through IT infrastructure and applications.
The companys services comprise business transformation, ITIL consulting, service management solution architecture, implementation, training and support services.
Announcing about the acquisition, Wipros Chief Strategy Officer, Sudip Nandy said, We see significant value from the cMango team through their potent consulting skills, breadth of service portfolio and domain depth. The acquisition would enhance Wipro's capabilities in the BSM space, where we have a small presence.
Wipro has been working with cMango for the past six to nine months in executing some of the deals jointly. Through this deal, likely to be concluded by April 2006, Wipro adds a 120-member strong team, of which some 70 are based at cMango's delivery center in Pune and close to 30 in Singapore.
This partnership brings together the specialized expertise of cMango and Wipro's wide range of services and extended global reach, cMangos Chief Executive Officer, Pravin Jain said.