Wipro Ltd.

Wipro has signed an agreement to acquire Promax Applications Group (PAG), a leading player in trade promotion planning, management, and optimization solutions space for a total purchase consideration of AUD 35 Million. Avendus Capital acted as the exclusive financial advisor to Wipro on this transaction.

The completion of the acquisition is subject to customary closing conditions and regulatory approvals and will be closed in the current April-June 2012 quarter. The newly formed entity will be called as Wipro Promax Analytics Solutions.

As per industry estimates, consumer focused companies spend 12 to 25% of their gross annual sales on trade promotions. Organizations are increasingly leveraging analytics to enhance effectiveness and maximize the return on investment (ROI) of their spends on trade promotions.