Wipro gains on entering into an agreement with LBBW to acquire Cellent AG

03 Dec 2015

Wipro is currently trading at Rs. 579.10, up by 1.35 points or 0.23% from its previous closing of Rs. 577.75 on the BSE.

The scrip opened at Rs. 587.00 and has touched a high and low of Rs. 587.00 and Rs. 577.35 respectively. So far 25538 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 676.90 on 11-Mar-2015 and a 52 week low of Rs. 512.55 on 24-Apr-2015.

Last one week high and low of the scrip stood at Rs. 587.00 and Rs. 565.20 respectively. The current market cap of the company is Rs. 143460.33 crore.

The promoters holding in the company stood at 73.36% while Institutions and Non-Institutions held 15.29% and 9.38% respectively.

Wipro, a leading global information technology, consulting and business process services company, has signed an agreement with Landesbank Baden-Wuerttemberg (LBBW) to acquire cellent AG for 73.5 Million Euros. Cellent AG is a leading IT consulting and software services company and has been offering holistic innovative IT solutions and services to its customers in the DACH region of Germany, Austria and Switzerland for the past 14 years. cellent AG serves the DACH market region with a team of more than 800 consultants, who will now become part of Wipro.

The DACH market is a strategic growth and investment region for Wipro. This acquisition will provide Wipro with significant scale and prime customer relationships, especially in the Manufacturing and Automotive domains, which are key industry sectors in the DACH region. The acquisition is subject to customary closing conditions and regulatory approvals and is expected to be closed in the quarter ended March 31, 2016.

Wipro is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better. The company delivers winning business outcomes through its deep industry experience and a 360 degree view of ‘Business through Technology’ - helping clients create successful and adaptive businesses.

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