Wipro to acquire US digital manufacturing firm ITI

Wipro Ltd, a leading Indian IT-BPM firm, said on June 5 that it has signed a deal to acquire International TechneGroup Inc (ITI), a US-based digital engineering and manufacturing solutions provider for around US$45 million

June 5, 2019

With its solutions for model based enterprise, data interoperability as well as data migration, ITI provides the building blocks for Industry 4.0, to build ‘next generation’ digital enterprises

With offices in the UK, Italy, Israel and Germany, ITI provides software products and services to leading manufacturers across aerospace, automotive, healthcare, among other industries

The acquisition comes as Wipro’s ‘EngineeringNXT’ programme is looking to build a digital thread connecting and improving design, engineering, and manufacturing activities

Government of India is looking to set up a national software industry worth around US$70-80 billion, with targeted employment generation of about 3.5 million by 2025

Wipro Ltd, a leading Indian IT-BPM firm, said on June 5 that it has signed a deal to acquire International TechneGroup Inc (ITI), a US-based digital engineering and manufacturing solutions provider for around US$45 million. ITI specialises in Computer Aided Design (CAD) and Product Lifecycle Management (PLM) interoperability software services. With its solutions for model-based enterprise, data interoperability as well as data migration, ITI provides the building blocks for Industry 4.0, to build ‘next generation’ digital enterprises, Wipro said, adding that the acquisition will help it expand in the digital engineering space.

With offices in the UK, Italy, Israel, and Germany, ITI provides software products and services to leading manufacturers across aerospace, automotive, healthcare, among other industries. The company also has partnerships with CAD, Computer Aided Manufacturing (CAM), Computer Aided Engineering (CAE) and PLM vendors, providing a variety of vendor/OEM integration and interoperability solutions. Wipro said that ITI’s offerings and solutions will become part of its Industrial & Engineering Services division and will function as a wholly-owned US subsidiary. This will help Wipro gain end-to-end capabilities in the space.

The acquisition comes as Wipro’s ‘EngineeringNXT’ programme is looking to build an integrated digital thread connecting and improving design, engineering, and manufacturing activities. It hopes to gain strengths in Industry 4.0. Following the deal, ITI’s customers will gain access to Wipro’s global services.

Indian companies have emerged as global leaders in IT-BPM servicing, backed by rising capabilities in the latest technologies. Earlier this year, Government of India had approved the National Policy on Software Products-2019 to develop the nation as a software product hub. India’s IT-BPM export had increased to US$137 billion during fiscal 2018-19, from US$126 billion a year earlier. India is aiming to set up a software industry worth around US$70-80 billion, with total employment generation of about 3.5 million by 2025. The Government has envisaged IT-BPM revenue of US$350 billion by 2025, from US$167 billion in 2017.