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India's Wipro Acquires Ohio's International TechneGroup Inc

India's Wipro Acquires Ohio's International TechneGroup Inc

Bangalore-based IT major Wipro Limited signed a definitive agreement for $45 million to acquire Milford, Ohio-based International TechneGroup Incorporated (ITI), that offers solutions for Model Based Enterprise, data interoperability and data migration. ITI has offices in the United Kingdom, Italy, Israel and Germany and directly provides software products and services to manufacturers across aerospace, automotive, healthcare and other segments. ITI will function as a wholly-owned U.S. subsidiary of Wipro.

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Harmeet Chauhan, senior vice president, Industrial and Engineering Services, Wipro, said, “This acquisition complements Wipro’s core strengths in Industry 4.0 (automation and data exchange in manufacturing technologies) and allows us to offer end-to-end solutions in Digital Engineering and Manufacturing.

The transaction is subject to approval by the Committee on Foreign Investment in the United States. The acquisition will be completed by the end of September.

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