Wipro acquired Convergence Acceleration Solutions (CAS) for $80 million to drive large-scale business and technology transformation for clients. The company will pay $50 million upfront, and the remaining $30 million will be payable over three years. “The joint entity will provide clients with services starting from strategy development and planning to execution and implementation,” Wipro said.

• Raymond Jumps 4% on Ex-BEL Chief’s Defence Appointment
• Supriya Lifescience Falls 12% on NDPS Act Proceedings
• Radico Hits Record High as Magic Moments Sales Soar 43%
• GK Energy Rallies on Rs 235.92 Crore Solar Pump Order
• Cupid Hits Fresh 52-Week High on Rs 128 Crore Block Deal

Founded in 2007, CAS Group provides strategic transformation programmes for services like mobile/wireless, business, and fibre-optic services, 5G, Internet of Things, and retail telecom solutions. Acquisitions have been one of Wipro’s main initiatives since Thierry Delaporte took over as CEO in July 2020. “The acquisition of CAS Group is yet another step in Wipro’s transformation journey toward becoming a sought-after strategic partner for clients’ most complex business transformation needs,” the company added.