Wipro to acquire Eximius Design, strengthens leadership in VLSI and systems design services

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced that it has signed a definitive agreement to acquire Eximius Design, a leading engineering services company with strong expertise in semiconductor, software and systems design.

Eximius provides endto-end solutions and services for building smarter, smaller and faster connected products for various use cases of loT, lndustry 4.0, Edge Computing, Cloud, 5G and Artificial lntelligence. Their expertise spans across SOC, lP, ASIC, FPGA1, Hardware System and Software domains. Founded in August 2013 and headquartered in San Jose, California, USA, Eximius has design centers in the US, lndia and Malaysia. Their clientele includes some of the Fortune 100 corporations and new age companies across semiconductors, cloud and hyperscale infrastructure, consumer electronics and automotive segments.

Eximius' offerings and solutions will be consolidated as a part of Wipro's EngineeringNXT framework, providing customers with a platform to innovate and engineer the next generation of products and platforms at scale.

"Eximius enables Wipro to strengthen market leadership in VLSI and systems design services by expanding our market presence and strengthening our technical leadership in the semiconductor ecosystem, to help accelerate silicon innovation for our customers. We are pleased to welcome Eximius' employees and look forward to help our customers innovate at scale and deliver next generation connected products, faster," said Harmeet Chauhan, Senior Vice President, lndustrial & Engineering Services, Wipro Limited.

"Our customers, employees and the entire semiconductor ecosystem will tremendously benefit from the synergies of Eximius and Wipro's combined portfolio of offerings," said Jay Avula, CEO, Eximius Design. "Clients will gain access to Wipro's global scale and offerings, along with Eximius' innovative solutions to accelerate the adoption of ASIC, FPGA, systems and software engineering initiatives. We are pleased to become a part of the Wipro family."

The acquisition is subject to customary closing conditions and regulatory approvals and is expected to close in the quarter ending December 31,2020.

Shares of WIPRO LTD. was last trading in BSE at Rs.375.75 as compared to the previous close of Rs. 377.55. The total number of shares traded during the day was 1576379 in over 20031 trades.

The stock hit an intraday high of Rs. 381.7 and intraday low of 373. The net turnover during the day was Rs. 593745362.

1 SOC - System on a chip, ASIC - Application Specific lntegrated Circuit, FPGA - Field Programmable Gate Array

Source : Equity Bulls

Keywords