The acquisition, which will be executed for a cash consideration including earn-outs, will give Wipro 100% ownership of DTS and strengthen its Engineering Research & Development (ER&D) service portfolio.
As part of the deal, more than 5,600 DTS employees, including key leadership, across the Americas, Europe, and Asia, will transition to Wipro upon closing.
DTS, headquartered in Connecticut, USA, is a global provider of ER&D and IT services with a presence in 14 countries, including India, the United States, South Korea, the United Kingdom, Poland, and Germany. Its services span embedded software, digital engineering, design thinking, device engineering, cloud and infrastructure, data analytics and AI, enterprise automation, and customer experience solutions.
The company caters to industrial, consumer, hi-tech communication and software, and healthcare sectors. DTS reported consolidated revenue of USD 315 million in CY22, USD 308.2 million in CY23, and USD 314.5 million in CY24, with about 85% of revenue in CY24 coming from services and the rest from products.
Wipro said the integration of DTS will expand its ER&D offerings across industries such as technology, industrial, aerospace, healthcare, and consumer markets. Combining DTS’s high-touch service model with Wipro’s global scale and advanced technology ecosystem is expected to provide clients with greater access to digital engineering and innovation capabilities.“Welcoming DTS into the Wipro family marks a pivotal step in our transformation journey. Their specialized engineering expertise, combined with Wipro’s consulting-led, AI-powered capabilities, will significantly enhance the value we deliver to clients. DTS’ strong presence in high-growth sectors and strategic markets complements our global footprint and strengthens our position as a trusted transformation partner. Together, we’ll accelerate digital innovation, reduce timeto-market, and sharpen competitive advantage,” said Srini Pallia, CEO and Managing Director of Wipro.Wipro shares closed flat at Rs 249.95 on Thursday on the BSE.Also read: Is Rs 4 crore enough for retirement corpus? Gurmeet Chadha gives simple calculation metric
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)