(Reuters) -Indian tech firm Wipro said on Thursday it would buy the digital transformation solutions unit of U.S.-based audio products maker Harman for $375 million, aiming to bolster its AI-led engineering services across sectors. The DTS unit, Harman Connected Services, will be integrated into Wipro’s engineering global business line once the deal is completed — […]
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India’s Wipro to buy Harman’s digital transformation solutions unit for $375 million
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(Reuters) -Indian tech firm Wipro said on Thursday it would buy the digital transformation solutions unit of U.S.-based audio products maker Harman for $375 million, aiming to bolster its AI-led engineering services across sectors.
The DTS unit, Harman Connected Services, will be integrated into Wipro’s engineering global business line once the deal is completed — expected by the end of the year.
More than 5,600 DTS employees across the Americas, Europe and Asia will transition to Wipro after the deal closes.
“The acquisition of DTS marks a pivotal step in Wipro’s ambition to bring to our clients end-to-end, AI-powered engineering services,” Wipro Managing Partner and Global Head of Engineering Srikumar Rao said.
Harman, owned by Samsung, is best known for its audio brands JBL, Harman Kardon and Infinity. It runs research and development centres in India through Harman Connected Services.
The sale will allow Harman to sharpen focus on its core automotive electronics and audio business, it said in a separate statement.
The deal will also allow Harman Connected Services to scale faster, with access to Wipro’s global client base, resources and technology.
(Reporting by Ananta Agarwal and Chandini Monnappa in Bengaluru; Editing by Nivedita Bhattacharjee, Sonia Cheema and Shilpi Majumdar)