Views on Wipro Digital to Enhance Digital Transformation Capability with Designit: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - IT, Angel Broking)

Wipro Digital to Enhance Digital Transformation Capability with Designit:

"Wipro Digital, the digital business unit of Wipro Limited announced its intention to acquire Designit, an award winning and global strategic design firm specializing in designing transformative product-service experiences. 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 centered-design methods.

Since it's founding in 1991 in Aarhus, Denmark, Designit has become one of the world's largest, privately-held design firms. Employing more than 300 people in nine offices globally, it delivers transformative product-service experiences for some of the world's most innovative brands in healthcare, telecom, banking, automotive, and retail. The acquisition is subject to customary closing conditions and regulatory approvals and is expected to be closed in the current quarter. While the exact numbers are not available in terms of cost of acquisition and sales of the acquired company, the acquisition is line in with the company's strategy to use inorganic initiatives to fund the growth. We maintain our BUY with the price target of INR 753."

Shares of WIPRO LTD. was last trading in BSE at Rs.548.6 as compared to the previous close of Rs. 544.65. The total number of shares traded during the day was 86938 in over 2785 trades.

The stock hit an intraday high of Rs. 554.35 and intraday low of 545.65. The net turnover during the day was Rs. 47772507.

Source : Equity Bulls

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