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Wipro acquires CAS group with better consideration of $80 million

On Monday, one of the most famous and renowned Indian IT companies, Wipro, announced that it had acquired US-based consulting program and program management company Convergence Acceleration Solutions(CAS) group, LLC. 

Wipro will be paying an upfront consideration of $50 million and contingent consideration of $30 million, to be payable over the time span of 3 years, for the acquisition of the company. 

Before diving deep into the new partnership between IT and a US-based Consulting firm, you must know more about these two companies. Wipro Limited is a world leader in information technology, consulting and business process services. Leverage the power of cognitive computing, ultra-automation, robotics, cloud, analytics, and new technologies to help clients adapt and succeed in the digital world. A globally recognized company with a comprehensive service portfolio, strong commitment to sustainability and responsible community engagement, more than 220,000 dedicated employees serve clients on six continents increase. We will discover ideas together, connect the dots, and build a brighter and bolder new future.

Convergence Acceleration Solutions, LLC is a popular independent consulting firm that provides strategic business and technology consulting services to the telecommunications industry and its partners. The company have 138 consultants with deep expertise and hands-on experience with 14 years of proven experience in some of North America’s largest telecommunications companies. In this transaction, ILLUM Partners was the exclusive financial adviser to Convergence Acceleration Solutions, LLC. Thompson Hine LLP represented Convergence Acceleration Solutions group, LLC as a trading advisor.

The US-based firm CAS group is privately held and employs 145 people. It posted &28 million in revenue in the previous year, 2021 calendar and compared to & 21 million in the year before. While talking about the remuneration of Wipro, then the Indian IT company’s revenue in the previous year was $9.8 billion. The company’s net worth amounted to about 555 billion Indian rupees, down from about 560 billion Indian rupees during the last fiscal year.

consulting - twitter search / twitter

What is the CAS group in Wipro?

Convergence Acceleration Solutions (CAS) is a firm specialized in driving a large-scale business and technology transformation for Fortune 100 communications service providers. While explaining CAS group in a press release, Wipro said that “CAS Group’s deep-rooted client relationships and strong domain expertise, combined with Wipro’s execution capabilities, will deliver an end-to-end professional services solution and remediation impact to clients.”

cas group

The joining entity of Wipro, along with the CAS group, will provide the clients with all the services ranging from strategy development and planning to execution and implementation. CAS group was founded and started in the year 2007. The group works on delivering strategic transformation programs to clients across 17 centres of service that include mobile/wireless, fibre-optic services, and business. In addition, the CAS group provides various other services such as cable, data, and telecom retail solutions.

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According to the press release, the range of services offered by the US-based consulting firm includes various other works like operational support system (OSS) and business support system (BSS) transformation, modernisation, application, broadband infrastructure services, and telco network enablement of digital products, just like a 5G, Internet of Things (IoT), and Network as a Service. 

money20/20 - philippe dintrans, cognizant - youtube

Philipe Dintrans, who is the Senior Vice President & Global Head, Domain and Consulting at Wipro, said that the US-based consulting firm has many long-standing strategic partnerships with one of the best and renowned larger communications service providers, combined with deep expertise in massive-scale transformation projects and works, will allow the Indian IT company Wipro in achieving a significant competitive advantage in the high-growth sector. 

Jon McAleer, the CEO of CAS group, while talking about his new partnership, said that” Joining hands with Wipro will help us to deliver our different and specialized set of capabilities at a global scale, adding more values, more insights, and the strength of one of the world’s largest technology services providing companies to our clients and employees. 

McAleer explained more about the two companies joining hands together and how it will benefit their customers and clients. He added, ” As we embark on the next phase of our growth journey, we are excited to bring out clients a broader set of solutions that will help and empower them to realize the need to transform their goals.” McAleer explained his feeling and said he was extremely proud of the whole team and thankful to all the clients who made the remarkable success possible.

While talking about the latest and significant transformations then, the credit is driven by North America as Malay Joshi, who is the Senior Vice President and Sector Head for Communications, Media & information business model, said that “Communication service providers in North America are the leading cusp of the significant transformation riven by the new connectivity technologies, differentiated business model and solutions. 

Wipro has been making many transformational journeys since its establishment, and acquiring the US-based consulting firm CAS group is one of those transformational journeys. As a result, the companies will together become a sought-after strategic partner for clients’ most complex and challenging transformation needs and demands. 

Apart from the CAS group, Wipro company has joined hands with other companies like Adobe, Amazon Web Series, Cisco, DataStax and Industrial Internet Consortium.

On Monday, one of the most famous and renowned Indian IT companies, Wipro, announced that it had acquired US-based consulting program and program management company Convergence Acceleration Solutions(CAS) group, LLC. 

See also  Wipro makes its biggest acquisition yet, buys Capco for $1.45 BN; Investors show a lukewarm response to the deal

Wipro will be paying an upfront consideration of $50 million and contingent consideration of $30 million, to be payable over the time span of 3 years, for the acquisition of the company. 

Before diving deep into the new partnership between IT and a US-based Consulting firm, you must know more about these two companies. Wipro Limited is a world leader in information technology, consulting and business process services. Leverage the power of cognitive computing, ultra-automation, robotics, cloud, analytics, and new technologies to help clients adapt and succeed in the digital world. A globally recognized company with a comprehensive service portfolio, strong commitment to sustainability and responsible community engagement, more than 220,000 dedicated employees serve clients on six continents increase. We will discover ideas together, connect the dots, and build a brighter and bolder new future.

Convergence Acceleration Solutions, LLC is a popular independent consulting firm that provides strategic business and technology consulting services to the telecommunications industry and its partners. The company have 138 consultants with deep expertise and hands-on experience with 14 years of proven experience in some of North America’s largest telecommunications companies. In this transaction, ILLUM Partners was the exclusive financial adviser to Convergence Acceleration Solutions, LLC. Thompson Hine LLP represented Convergence Acceleration Solutions group, LLC as a trading advisor.

The US-based firm CAS group is privately held and employs 145 people. It posted &28 million in revenue in the previous year, 2021 calendar and compared to & 21 million in the year before. While talking about the remuneration of Wipro, then the Indian IT company’s revenue in the previous year was $9.8 billion. The company’s net worth amounted to about 555 billion Indian rupees, down from about 560 billion Indian rupees during the last fiscal year.

consulting - twitter search / twitter

What is the CAS group in Wipro?

Convergence Acceleration Solutions (CAS) is a firm specialized in driving a large-scale business and technology transformation for Fortune 100 communications service providers. While explaining CAS group in a press release, Wipro said that “CAS Group’s deep-rooted client relationships and strong domain expertise, combined with Wipro’s execution capabilities, will deliver an end-to-end professional services solution and remediation impact to clients.”

cas group

The joining entity of Wipro, along with the CAS group, will provide the clients with all the services ranging from strategy development and planning to execution and implementation. CAS group was founded and started in the year 2007. The group works on delivering strategic transformation programs to clients across 17 centres of service that include mobile/wireless, fibre-optic services, and business. In addition, the CAS group provides various other services such as cable, data, and telecom retail solutions.

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According to the press release, the range of services offered by the US-based consulting firm includes various other works like operational support system (OSS) and business support system (BSS) transformation, modernisation, application, broadband infrastructure services, and telco network enablement of digital products, just like a 5G, Internet of Things (IoT), and Network as a Service. 

money20/20 - philippe dintrans, cognizant - youtube

Philipe Dintrans, who is the Senior Vice President & Global Head, Domain and Consulting at Wipro, said that the US-based consulting firm has many long-standing strategic partnerships with one of the best and renowned larger communications service providers, combined with deep expertise in massive-scale transformation projects and works, will allow the Indian IT company Wipro in achieving a significant competitive advantage in the high-growth sector. 

Jon McAleer, the CEO of CAS group, while talking about his new partnership, said that” Joining hands with Wipro will help us to deliver our different and specialized set of capabilities at a global scale, adding more values, more insights, and the strength of one of the world’s largest technology services providing companies to our clients and employees. 

McAleer explained more about the two companies joining hands together and how it will benefit their customers and clients. He added, ” As we embark on the next phase of our growth journey, we are excited to bring out clients a broader set of solutions that will help and empower them to realize the need to transform their goals.” McAleer explained his feeling and said he was extremely proud of the whole team and thankful to all the clients who made the remarkable success possible.

While talking about the latest and significant transformations then, the credit is driven by North America as Malay Joshi, who is the Senior Vice President and Sector Head for Communications, Media & information business model, said that “Communication service providers in North America are the leading cusp of the significant transformation riven by the new connectivity technologies, differentiated business model and solutions. 

Wipro has been making many transformational journeys since its establishment, and acquiring the US-based consulting firm CAS group is one of those transformational journeys. As a result, the companies will together become a sought-after strategic partner for clients’ most complex and challenging transformation needs and demands. 

Apart from the CAS group, Wipro company has joined hands with other companies like Adobe, Amazon Web Series, Cisco, DataStax and Industrial Internet Consortium.

edited and proofread by nikita sharma.

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