Wipro Ltd said on Monday it has signed a definitive agreement to acquire cMango, a US-based technology company for $20 million.
cMango, a privately-held firm, will also be made some additional payment based on earn-outs on achieving targeted financial metrics over a two-year period, though a Wipro release said. cMango, a company focused on Business Service Management solutions, has offices in the US, the UK and Singapore and a delivery centre in Pune. The company has an annualised revenue of $13 million.
"cMango will be part of the Technology Infrastructure Services (TIS) Service-line of Wipro Technologies, a leader in remote infrastructure services," the release said. Wipro Technologies is the global IT division of Wipro Ltd. "cMango’s services comprise business transformation, ITIL consulting, service management solution architecture, implementation, training and support services," the release said.
Commenting on the transaction, Pravin Jain, CEO, cMango said, "This partnership brings together the specialised expertise of cMango in BMC¹s BSM solutions and Wipro’s wide range of services and extended global reach." "The acquisition is in line with Wipro’s strategy to invest in areas where it can establish leadership through differentiated service lines and domain knowledge," the release said.
cMango, a privately-held firm, will also be made some additional payment based on earn-outs on achieving targeted financial metrics over a two-year period, though a Wipro release said. cMango, a company focused on Business Service Management solutions, has offices in the US, the UK and Singapore and a delivery centre in Pune. The company has an annualised revenue of $13 million.
"cMango will be part of the Technology Infrastructure Services (TIS) Service-line of Wipro Technologies, a leader in remote infrastructure services," the release said. Wipro Technologies is the global IT division of Wipro Ltd. "cMango’s services comprise business transformation, ITIL consulting, service management solution architecture, implementation, training and support services," the release said.
Commenting on the transaction, Pravin Jain, CEO, cMango said, "This partnership brings together the specialised expertise of cMango in BMC¹s BSM solutions and Wipro’s wide range of services and extended global reach." "The acquisition is in line with Wipro’s strategy to invest in areas where it can establish leadership through differentiated service lines and domain knowledge," the release said.