Exhibit 99.8
Wipro Limited | October 20, 2016 |
Disclosure under regulation 30 of the Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015
Sr. No. | Particulars | Description | ||
1 | Target Name | Appirio Inc and its subsidiaries (“Appirio”) | ||
2 | Related party transaction | No | ||
3 | Industry of Target entity | IT Consulting and Software services | ||
4 | Acquisition objectives | This acquisition will significantly enhance Wipro’s market share & positioning in the Cloud Enterprise Applications space, especially in Salesforce and Workday. Wipro will be able to become a partner of choice for clients who are looking at modernizing their processes and platforms onto Next Generation Cloud Applications. | ||
5 | Government & regulatory Approval required | Approval under the Hart–Scott–Rodino Antitrust Improvements Act, in the United States of America | ||
6 | Time period for completion | Closing is expected in the quarter ending December 31, 2016 | ||
7 | Nature of consideration | Cash | ||
8 | Purchase consideration | US $500Mn (USD Five Hundred Million) | ||
9 | Shares acquired | 100% | ||
10 | Target Information | Founded in 2006, Appirio was an early partner of Salesforce.com, Workday and Google, and a pioneer in crowdsourcing. Appirio is a global services company that helps customers create next-generation Worker and Customer Experience using the latest cloud technologies. Appirio is headquartered in the U.S. with offices in Indianapolis, San Francisco, Dublin, London, Tokyo and Jaipur, India. Appirio is privately held and has a workforce of ~1,250. Last three years’ revenue: US $137M (2013), US $178M (2014) and US $196M (2015). |