Wipro to buy Denmark’s strategic design firm Designit for Rs595 cr
10 Jul 2015
Wipro Digital, the digital business unit of Indian software giant Wipro, yesterday struck a deal to buy Denmark's strategic design firm Designit for €85 million (Rs595 crore), in order to strengthen its digital services unit.
The deal includes a performance-based contingent consideration payable over three years and is expected to close in the current quarter.
"The final payout could range between 70 per cent - 105 per cent of purchase consideration," Wipro said in a statement.
''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.'' The Bengaluru-based company said in a statement.
Since its 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 offers strategic design and innovation services, including product design, service design, and experience design, with an emphasis on mobile and digital media for some of the world's most innovative brands in healthcare, telecom, banking, automotive, and retail.
Its clients include Cisco, LG, Audi, Vodafone, Samsung, Ikea, Schneider Electric and others.
''With our acquisition of Designit, we will complement the capabilities of an established design leader with our engineering heritage and bring compelling value to our clients," said Rajan Kohli, senior vice president and global head of Wipro Digital.
"Design is no longer about beautification. It is about creating a strategic foundation, driving growth and change across industries. We have much of the technology needed, but we need to design the human experience in ways that make sense to us, and for the way we live and work. That's why design today is so influential and strategic. There's an endless market for products, services, and systems that need to be simplified and humanised. With Wipro Digital, we can deliver as big as we can dream," said Mikal Hallstrup, founder and chief visionary officer of Designit.
