Wipro Ltd, India’s third-largest software services exporter, said on Thursday it has agreed to acquire Belgium-based 4C for €68 million (around Rs 585 crore or $78.7 million) in cash.
The acquisition will boost Wipro's position as a major provider of Salesforce solutions in the UK, Europe and the Middle East, Wipro said in a stock market disclosure.
Wipro has an established Salesforce business in the Americas, Japan and Australia which was reinforced with the Appirio acquisition in 2016, it added.
4C, which was founded in 1997, has capabilities in transforming quote-to-cash processes with Salesforce’s configure, price, quote (CPQ) software and billing solutions.
The company reported revenue of €31.8 million for the fiscal year ended January 31, 2020, compared with €24.1 million the year before and €17.9 million in 2017-18.
The transaction, which is subject to customary closing conditions, is likely to be completed by the end of September.
This is Wipro’s second acquisition this month and also the second under its new chief executive. Last week, Wipro said it would acquire Brazilian IT services company IVIA Servicos de Informatica Ltda for $22.4 million.
In May, Wipro appointed Thierry Delaporte as its new CEO and managing director from July. Until recently, Delaporte was the chief operating officer of Capgemini Group and a member of its group executive board.
Wipro's rival Infosys also announced an acquisition earlier this year. Infosys said it would acquire Outbox Systems Inc., a US-based company that operates under the Simplus brand, to beef up its cloud consulting and digital transformation offerings.