Bangalore, Feb. 20
CONTINUING with its `String of Pearls' acquisition strategy, Wipro Technologies added one more pearl on Monday by picking up the US-based privately-held cMango Inc, a technology infrastructure consulting firm, in an all-cash deal. As part of the deal, Wipro will pay $20 million in cash as well as earn-outs based on achieving financial targets over a two-year period.
cMango, with annualised revenues of $13 million, is focussed on offering business service management (BSM) solutions from BMC Software Inc. BSM involves managing services offered through IT infrastructure and applications. cMango's services comprise business transformation, ITIL consulting, service management solution architecture, implementation, training and support services.
Mr Sudip Nandy, Wipro's Chief Strategy Officer, said, "We see significant value from the cMango team through their potent consulting skills, breadth of service portfolio and domain depth."
"The cMango acquisition enhances Wipro's capabilities in the BSM space, where we have a small presence," said Mr G. K. Prasanna, Senior Vice-President, Technology Infrastructure Services, Wipro Technologies. "Wipro has been working with cMango for the past six to nine months in executing some of the deals jointly," he told
Through this deal, likely to be concluded by April 2006, Wipro adds a 120-member strong team, of which some 70 are based at cMango's delivery centre in Pune and close to 30 in Singapore.
Mr Pravin Jain, CEO, cMango said, "This partnership brings together the specialised expertise of cMango and Wipro's wide range of services and extended global reach."