- This is second acquisition since the new CEO Thierry Delaporte took over on July 6, 2020.
- On July 14, the company announced the acquisition of Brazil-based IT firm “IVIA Serviços de Informática” for $22.4 million
Indian IT services firm Wipro acquire 4C, a Salesforce multi-cloud partner firm, The company is acquiring 4C for $78 million (68 million euro). The transaction is expected to be completed by the quarter-ending September 30, the company said in a BSE filing.
Only last week, on July 14, the company announced the acquisition of Brazil-based IT firm IVIA Serviços de Informática for $22.4 million. Two swift acquisition in two weeks is probably keeping in line with what Delaporte outlined as his vision for Wipro. This move includes growth and regaining momentum by building on Wipro’s strengths, focus on digital and making bold moves to bring back the growth momentum.
4C has more than 350 employees across offices in London, Paris, Brussels, Copenhagen and Dubai.
The Indian IT services company, which has a Salesforce business in the Americas, Japan and Australia that had been reinforced with the acquisition of Appirio in 2016, said the 4C acquisition would significantly strengthen its position as a Salesforce solutions provider in these markets.
4C will be consolidated as part of Wipro’s Salesforce practice. The acquisition is expected to close in the quarter ending September 30.
The Belgium-based company’s made revenues of 31.8 million euros, 24.1 million euros and 17.9 million euros in 2020, 2019 and 2018, respectively. The company’s fiscal year ends on January 31.
Wipro has offered a reasonable price given 4C’s strengths, he added.
“4C was bought at 2.1x revenues, which looks reasonable, as it is in high growth Salesforce competency; (and) Infosys paid 3x Sales for Simplus, another Salesforce focused company, in February. 4C’s revenues grew by 33% CAGR over the past two years,” Babu pointed out.