Bengaluru-based tech firm Wipro Ltd. has signed a definitive agreement to acquire a 100% shareholding in Applied Value Technologies, Inc. and its affiliates Applied Value Technologies Pte. Ltd. and Applied Value Technologies B.V. (“AVT”), which are part of the Applied Value Group, for a consideration of up to $40 million, the company said in a regulatory filing on Monday evening.
This all-cash transaction is expected to be completed at the latest by December 31, it said.
Founded in 2021, Applied Value Technologies is headquartered in Massachusetts, USA, Applied Value Technologies Pte. Ltd. is headquartered in Singapore and Applied Value Technologies B.V is headquartered in the Netherlands.
These companies provide enterprise application development and support services for global customers and their consolidated revenue for the last three completed years, ending December 31, was $0.8 million in 2021, $8.7 million in 2022 and $19.4 million in 2023, as per the filing.
Published – December 16, 2024 09:40 pm IST
