Wipro Technologies and private equity firm Warburg Pincus are reportedly in talks to acquire the DTS business of Harman’s India arm.
Harman entered the Indian market in 2008 and currently operates in eight cities across the country.
Wipro Technologies and Warburg Pincus are eyeing to acquire the digital transformation solutions (DTS) business of Harman’s India arm. Harman is a wholly owned subsidiary of Samsung Electronics. The deal is estimated to value the business at about $500 million, the Economic Times reported.
The development comes around a time when Rishad Premji-chaired Wipro Technologies is on an acquisition spree.
Harman, which is famous for its audio brands JBL, Harman Kardon and Infinity, was acquired by the South Korean giant in 2017 for $8 billion. The company designs and engineers connected products and solutions for automakers and consumers globally. Harman’s offerings include connected car systems, audio-visual products, and enterprise automation solutions. It started operations in India in 2008 and has its presence across eight cities in the country.
It has partnered with Bengaluru-based Wipro Technologies via a strategic engineering collaboration since it first began operations in India. Additionally, Harman India runs a development centre at Wipro’s facilities in Bengaluru and Chennai.
Although the auto segment is a major source of revenue for Harman India, the firm’s DTS unit has a strong presence in the country across healthcare, communications, and industrial applications.
Wipro’s Expansion Spree
This development marks a significant step towards Wipro’s expansion spree across different sectors. In 2024, the giant bought Aggne Global, a US-based insurance tech firm, to maintain a stronghold in the insurance sector and a 27% stake in an automotive software marketplace, SDVerse. It acquired Applied Value Technologies, a US-based consulting firm, to expand its presence in application development and support services. Prior to this in 2022, Wipro Technologies acquired Rizing Intermediate Holdings for $540 million to expand its SAP (Systems, Applications & Products) consulting capabilities. In 2021, the giant acquired global management and technology consultancy firm Capco for $1.45 billion.
