Wipro acquires Denmark-based design firm Designit for €85 million.

Wipro Digital, the digital business unit of India's third largest IT services provider Wipro on Thursday announced its intention to acquire Denmark-based design firm Designit.

The company specialises in designing transformative products-service experience, Wipro said in a regulatory filing to the BSE. According to the company statement, the purchase consideration is of €85 million (about Rs. 590 crore) which includes a performance based contingent consideration payable over three years.

The acquisition is subject to customary conditions and regulatory approvals and is expected to be closed in the current quarter, added Wipro. Final Payout could range between 70 -105 per cent of purchase consideration.

“This investment marks a further stage in Wipro’s move to evolve the digital offer it takes to market, combining its reputation and heritage in deep engineering and transformative technology with human-centred design methods,” the company said in the filing.

Designit’s expertise in experience-driven design complements Wipro Digital’s capabilities in technology, digital strategy, design, and digital architecture, the company said.

“With our acquisition of Designit, we will complement the capabilities of an established design leader with our engineering heritage and bring compelling value to our clients,” said Rajan Kohli, Senior Vice-Presient and Global Head Wipro Digital.

Founded in 1991, Designit employs more than 300 people in its nine offices globally, it delivers transformative product-service experiences for various sectors like healthcare, telecom, banking, automotive, and retail. In calendar year 2014, the company had a revenue of € 27 million.

The Hindu