Wipro buys Harman DTS for $375 million

Wipro aims to strengthen its engineering and R&D arm through the deal

- Jas Bardia

Wipro Ltd acquired Harman Digital Transformation Services (DTS), the software services and engineering arm of the Connecticut-based audio product maker, in a bid to strengthen its engineering, research, and development arm.

On Thursday, India's fourth-largest information technology (IT) services company stated that its acquisition of Harman DTS is expected to cost $375 million and will be completed by December.

This comes a little more than a week after a peer's move. Cross-city peer Infosys Ltd announced it bought a 75% stake in Australian IT firm, Telstra, for $150 million, signaling that the country's largest software services companies are eyeing inorganic growth in the face of demand uncertainty.