Wipro to acquire Salesforce multi-cloud provider 4C
By MYBRANDBOOK
Wipro is said to acquire Salesforce implementation partner 4C for 68 million euros, the Bengaluru-based software services exporter declared. This is the company’s second acquisition since Thierry Delaporte took over as Chief Executive Officer earlier this month.
On July 14, Wipro said it would acquire Brazil-based IVIA Servicos for $22.4 million.
Founded in 1997, 4C is an independent Salesforce Platinum Partner and it has deep capabilities across multiple Salesforce clouds including sales, marketing and field services. It specialises in transforming Quote-to-Cash processes with Salesforce’s Configure, Price, Quote (CPQ) and billing solutions. Quote-to-Cash is an integrated management business process.
“This combination, along with Wipro’s reach across the region and industry, will help us become a dominant player in Europe and a leader in Salesforce’s Quote-to-Cash domain,” said Harish Dwarkanhalli, President, Cloud Enterprise Platforms, and Wipro.
“Acquisitions will be part of our agenda. There are positions to take, we will continue to look for companies that are reinforcing our position in areas that we feel are strategic; it can be specific market, specific industry, or specific technology,” Delaporte told in a recent interview.
The Indian IT services company, which has a Salesforce business in the Americas, Japan and Australia that had been reinforced with the acquisition of Appirio in 2016, said the 4C acquisition would significantly strengthen its position as a Salesforce solutions provider in these markets.
4C will be consolidated as part of Wipro’s Salesforce practice. The acquisition is expected to close in the quarter ending September 30.
The Belgium-based company made revenues of 31.8 million euros, 24.1 million euros and 17.9 million euros in 2020, 2019 and 2018, respectively. The company’s fiscal year ends on January 31.
This is a small tuck-in acquisition to boost Salesforce competency for Wipro, said Madhu Babu, an IT analyst at brokerage firm Centrum.
“4C was bought at 2.1x revenues, which looks reasonable, as it is in high growth Salesforce competency; (and) Infosys paid 3x Sales for Simplus, another Salesforce focused company, in February. 4C’s revenues grew by 33% CAGR over the past two years,” Babu pointed out.
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