Wipro to acquire Australian cybersecurity firm Ampion for $117 million
IT, consulting and business process services major Wipro Limited, on Thursday, announced that it has signed an agreement to acquire Ampion, an Australia-based provider of cybersecurity, DevOps and engineering services. The transaction is valued at $117 million in cash, as per the regulatory filing.
Following the announcement, Wipro’s share price jumped by 1.8% as markets opened in the morning. The company’s stock has gained over 8% this year, till now.
Ampion is headquartered in Melbourne, with offices in Sydney, Brisbane. It has a local team of 500 consulting and technology specialists and has 150 clients.
“Wipro and Ampion’s combined offerings, powered by engineering transformation, DevOps and security consulting services are expected to bring scale and market agility to respond to the growing demands of customers,” the company said in a statement.
Wipro’s new operating model emphasises strategic investments in focus geographies, proximity to customers, agility, scale and localisation. Wipro said the acquisition of Ampion is an important step in this direction and strengthens its commitment towards clients and stakeholders in Australia and New Zealand (ANZ).
“Wipro has been present in the ANZ market for over two decades with deep client relationships across industry sectors and localised domain and delivery capabilities. Today, Wipro is well known for its differentiated technology solutions, and has also been recognised as a ‘Top Employer’ in Australia for two consecutive years,” the statement added.
Commenting on the deal, N S Bala, CEO – APMEA, Wipro Limited said, “I am excited to welcome Ampion to the Wipro family. Ampion has a successful track record and enjoys immense credibility with leading enterprises in the region, a collaborative work culture, and significant local subject matter expertise. We see Ampion as a complementary force that will help us expand our footprint and accelerate our journey in the Asia Pacific region.”
The acquisition is subject to customary closing conditions and regulatory approvals and is expected to close in the quarter ending June 30, 2021.
“Our clients, employees and the entire market ecosystem will tremendously benefit from the synergies of Ampion and Wipro’s combined portfolio of transformation offerings,” said Jamie Duffield, CEO, Ampion.