India's Wipro to buy U.S. cloud services company Appirio for $500 million

Reuters News
Posted: Oct 20, 2016 10:03 AM

MUMBAI (Reuters) - Wipro Ltd <WIPR.NS>, India's third-biggest software services exporter, said on Thursday it had agreed to buy U.S.-based cloud services company Appirio for $500 million.

Appirio has 1,250 employees worldwide, with offices in cities including London and Tokyo.

The deal is expected to be completed during the current quarter, Wipro said in a statement.

India's $150 billion-plus information technology sector has increasingly been making a shift from its traditional outsourcing business to cloud, automation and digital services to meet the demands of its Western clients.

Wipro reports fiscal second-quarter earnings on Friday.

(Reporting by Sankalp Phartiyal; Editing by Mark Potter)