Wipro (WIT) to Acquire Trade Promoter Promax Applications Group in A$35M Deal
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Wipro Limited (NYSE: WIT) has signed an agreement to acquire Promax Applications Group (PAG), for a total purchase consideration of AUD 35 Million.
As per industry estimates, consumer focused companies spend 12 to 25% of their gross annual sales on trade promotions. Organizations are increasingly leveraging analytics to enhance effectiveness and maximize the return on investment (ROI) of their spend on trade promotions.
Avendus Capital acted as the exclusive financial advisor to Wipro on this transaction.
Completion of the acquisition is subject to customary closing conditions and regulatory approvals and will be closed in the current April-June 2012 quarter. The newly formed entity will be called as Wipro Promax Analytics Solutions Pty Ltd.
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As per industry estimates, consumer focused companies spend 12 to 25% of their gross annual sales on trade promotions. Organizations are increasingly leveraging analytics to enhance effectiveness and maximize the return on investment (ROI) of their spend on trade promotions.
Avendus Capital acted as the exclusive financial advisor to Wipro on this transaction.
Completion of the acquisition is subject to customary closing conditions and regulatory approvals and will be closed in the current April-June 2012 quarter. The newly formed entity will be called as Wipro Promax Analytics Solutions Pty Ltd.
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