Wipro acquires Australian Company Promax for $35 Million

Global software major Wipro Ltd has acquired Australian-based analytics firm Promax Applications Group for Australian $35 million (Rs.189 crore).

“The acquisition of Promax will strengthen our positioning and capability in management, analytics and optimisation of trade promotions and extend our leadership in analytics and information management services,” Wipro global head for analytics and information management K.R. Sanji said in a statement Tuesday.

As per industry estimates, consumer focused firms spend 12-25 percent of their gross annual sales on trade promotions. Organisations are leveraging analytics to enhance effectiveness and maximize the return on investment (RoI) of their spend on trade promotions.

“Combining Promax’s industry expertise with our experience in delivering end-to-end large business solutions to global clients will enable our clients to maximise the RoI of Trade Promotion spends,” Sanjiv noted.

The company hopes to close the deal during this quarter (April-June) of fiscal (2012-13) and rename the new entity as Wipro Promax Analytics Ltd.

“Promax will help Wipro to differentiate its offerings in the trade and marketing management space through an added value proposition. The combined entity will provide clients access to an enhanced portfolio of technologies and solutions and provide employees enhanced training, growth and career opportunities,” Promax chief executive Don Nicol said in the statement.

Leading financial services provider Avendus Capital acted as the advisor to Wipro on this transaction.