Wipro buying Australian firm Ampion for Rs 858 crore
Global software major Wipro on Thursday announced buying Australia-based Ampion for $117 million (Rs 858 crore), as it provides cyber security, Dev Ops (software development and IT operations) and engineering services.
"The transaction is expected to be completed during the quarter ending June 30, 2021, subject to regulatory approvals," said the city-based listed firm in a regulatory filing.
The buyout in cash is for 100 per cent acquisition of Ampion's shares.
Headquartered in Melbourne, Ampion was formed through a merger of IT services providers 'Revolution IT' and Shelde in 2019.
Revolution IT was an IT services firm founded in 2004 and Shelde was a digital IT security company set up in 2010.
"Ampion has 500 consulting and technology specialists. It posted US$85.5-million revenue for the year ending June 30, 2020," said the filing.
The Australian market is undergoing disruption through the adoption of cloud, DevOps, analytics and resilience related digital capabilities, across enterprises and public sector entities.
"Our combined offerings, powered by engineering transformation, DevOps and security consulting services will bring scale and market agility to respond to the growing demands of customers," said the outsourcing firm on the occasion.
Wipro's operating model emphasises strategic investments in focus geographies, proximity to customers, agility, scale and localisation.
"The acquisition is an important step for us in this direction and strengthens our commitment to clients and stakeholders in Australia and New Zealand (ANZ)," said the statement.
Wipro has been present in the ANZ market for over two decades with client relationships across industry sectors and localised domain and delivery capabilities.
"Ampion has a track record with leading enterprises in the region, a collaborative work culture and local expertise. We see it as a complementary force to help us expand our footprint in the Asia-Pacific region," said Wipro Chief Executive for APMEA N.S. Bala in the statement.
Ampion Chief Executive Jamie Duffield said clients, employees and the market would benefit from the synergies between the two firms.
"We believe our experience, talent, capabilities and client credentials in ANZ, coupled with Wipro's global scale, leadership in technology and understanding of domain and delivery will make us a formidable team," added Duffield.
