American Management Systems, a global business and IT consulting firm, announced today that it will sell its global utilities practice to Wipro of Bangalore, India for approximately $26 million.
Upon close of the sale, the AMS utilities practice will become part of the Wipro global technology services division, which has operations across India, North America, Europe and Japan.
The agreement is said to include the transfer of customers and intellectual property. Wipro will extend offers of employment to the utilities practice employees of AMS in the US and Europe.
‘This acquisition enhances our ability to deliver end-to-end IT solutions for players in the energy and utilities space, bolstered by a global delivery model,’ said Sudip Banerjee, President, Wipro Technologies Enterprise Solutions. ‘The cultural fit for us is tremendous, as we share the same commitment to excellence in solution delivery and providing world class solutions.’
The transaction, which is scheduled to close at the end of the month, has been approved by the board of directors of both companies and is subject to customary legal approvals and closing conditions.