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Information Technology News Wipro acquires EU retail solutions provider for $52.3 million
Information Technology News Wipro acquires EU retail solutions provider for $52.3 million | Wipro acquires EU retail solutions provider for $52.3 million |
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| by Sufia Tippu | |
| Friday, 02 June 2006 | |
  
 Bangalore: India’s third largest software exporter, Wipro Technologies with revenues of over a billion dollars, has done it again. Its “string of pearls “strategy has certainly picked up momentum with its fifth acquisition coming up in just six months and this time it is Europe- based retail solutions provider, Enabler which it has bought in an all cash deal of 41 million euros ($52.2 million) In the last 12 months Wipro has made a number of small acquisitions that has helped the company either to enter new geographic markets or enlarge its footprint in different verticals. The “string of pearls “strategy which was basically to acquire smaller companies and grow -- was coined by its former high profile CEO, Vivek Paul who was instrumental in creating a global brand that Wipro is today. Enabler, with 30 million euros ($38.6 million) revenue is one of the leading specialists in consulting and implementation of integrated solutions in the retail domain. Its customer base includes more than a dozen Oracle retail implementations for a diverse set of retail formats (food, fashion, DIY) covering most of the Oracle retail modules. Created in 1997, through the planned separation of the IS/IT department of Portugal's leading retailer, Modelo Continente, a division of Sonae Group, Enabler is a preferred integrator of Oracle retail (Retek) solutions and provider of retail consulting services for global retailers. It has delivery centers in Portugal and Brazil with over 300 employees across Portugal, UK, Germany, France, Spain, Italy, Middle East and Brazil. "Retail is one of the largest and fastest-growing sectors in the enterprise solutions market and is also our strongest revenue generators, with about 13 percent of revenues coming from here, Sudip Banerjee, President, Enterprise Solutions, Wipro Technologies said during a press conference held here late Thursday evening, The company has been focused on the retail industry for six years and most of its customer base includes large U.S. retailers which include Albertson’s, Best Buy, and Nike. "This is a win-win partnership where our clients will benefit from Wipro's scale, range of complementary services, and the proven global services delivery capability. And we are excited about expanding Enabler's offerings in retail solutions into Wipro's customer base worldwide. “said Antonio Murta, CEO of Enabler. Sudip Nandy, Chief Strategy Officer, Wipro Technologies added, that the acquisition is in keeping with Wipro's articulated strategy of enhancing our domain skills. “In addition, this transaction expands our geographic footprint and adds two new delivery centers in strategic locations such as Portugal and Brazil, “he said. A quick look at Wipro acquisitions: 2002 - Spectramind for $93 million (Delhi, India) 2002 - GE Medical Systems Information Technologies Ltd, for $5.73 million (Bangalore) 2002 – IT assets of Ericsson’s R&D arm in Hyderabad (India) 2002 - Global Energy practice of American Management Systems Inc., for $26 million 2003 – US-based Nervewire Inc. for $18.7 million 2005 (Dec )- NewLogic, an Austrian-based semiconductor design company for $56 million 2005 (Dec)– mPower, New Jersey –based payment services provifer for $28 Million 2006 – (Feb) cMango, a US-based Business Service Management company for $20 million 2006 – (Mar) US-based Quantech, a mechanical design services firm, for $10 million plus earn outs for three years. 2006 – (May) EU – Enabler, retail services provider for $52.3 million {moscomment} |
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