Wipro acquires consulting firm Convergence for $80 million

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Wipro has acquired Convergence Acceleration Solutions (CAS), a US-based consulting and program management company that specialises in driving large-scale business for Fortune 100 communications service providers, the company said in a statement on Monday.

The acquisition will help Wipro drive large-scale business and technology transformation for clients, according to the press release. The deal is for acquiring 100% shares in the company for a cash consideration of $50 million and contingent consideration of $30 million to be payable over three years.

This is Wipro’s first acquisition in 2022. The Bengaluru-based company acquired cybersecurity firm Edgile for $230 million and consulting firm LeanSwift for $21 million late last year. “Inorganic expansion is one of the top growth strategies,” said Thierry Delaporte, managing director and chief executive officer of Wipro.

CAS Group, founded in 2007, delivers strategic transformation programs to clients across 17 centers of service including mobile/wireless, business, and fiber-optic services, as well as cable, data, and telecom retail solutions.

The group, which closed $28.1 million revenue for the year ended December 2021, is privately-held and has a workforce of 145 employees.

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