Wipro to acquire European Salesforce partner 4C for €68 mn

Wipro to acquire European Salesforce partner 4C for €68 mn
Photo Credit: Reuters
24 Jul, 2020

Information technology (IT) services firm Wipro said that it is set to acquire European Salesforce multi-cloud partner 4C for €68 million by the end of September quarter.

Mechelen, Belgium based 4C, which has operations in the UK, Europe and the Middle East, was founded in 1997 and reported revenues of €32 million for the financial year ending January 31, 2020. The company has over 500 customers, 350 employees and has completed over 1,500 projects, a statement from the Bengaluru-based company said. 

Salesforce provides cloud-based customer relationship management software for large enterprises, which supports the sales division. According to Wipro, 4C has deep expertise in Quote to Cash, a process that encompasses sales, account management, order fulfilment, billing and accounts receivables functions.

Earlier this year, Wipro's larger rival Infosys acquired Simplus, a Salt Lake City, Utah based cloud consulting startup backed by Salesforce Ventures and other investors, in a transaction worth up to $250 million, to strengthen its end-to-end Salesforce enterprise cloud solutions offerings.     

As a Salesforce consultant and partner, 4C helps its customers across multiple Salesforce clouds, including sales, marketing and field services, and specialises in transforming Quote to Cash processes with Salesforce’s configure, price, quote (CPQ) and billing solutions. 4C will be made a part of Wipro's Salesforce practice, which provides solutions globally around multiple Salesforce clouds and its ecosystem of products, the statement said.

“4C brings in a rich blend of deep Salesforce expertise across multiple clouds, coupled with a team of multi-faceted, multilingual experts with strong regional knowledge. 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,” Harish Dwarkanhalli, president of cloud enterprise platforms at Wipro, said.

The country's fourth largest software exporter Wipro said that the acquisition will significantly strengthen its position as a leading provider of Salesforce solutions in these markets. The company added that it has a well-established Salesforce business in the Americas, Japan and Australia, which was reinforced with the Appirio acquisition in 2016.   

“Wipro's global presence, robust digital transformation consulting and delivery capabilities and significant investment in the European market, provides an excellent platform for the growth of our employees. We will now leverage this opportunity to take the next leap in building companies for the future for our customers, not just locally but across EMEA,” Johan Van Genechten, CEO of 4C, said.

Last week, Wipro announced the acquisition of Brazilian IT services firm IVIA Serviços de Informática for $22.4 million. This is expected to help Wipro to capture a market in Brazil’s financial, retail and manufacturing sectors.  

Wipro posted a flat growth of 0.1% in net profit to Rs 2,390 crore for the first quarter of the financial year 2020-21, amid the Covid-19 induced global economic crisis.