Warburg and Wipro to Acquire DTS Division of Harman in India
Warburg Pincus and Wipro Technologies are in deep discussions to purchase the digital transformation solutions (DTS) division of Harman in India. The agreement might appraise the unit at roughly $500 million (Rs.43.75 billion). Deutsche Bank is counseling Harman, which is a wholly owned subsidiary of Samsung Electronics, regarding the possible sale. Warburg's private equity representatives have not yet addressed the issue, and no official statement has been issued by Harman or Wipro Technologies.
Harman, located in the United States and recognized for audio brands like JBL, Harman Kardon, and Infinity, creates connected solutions and products for both automotive and consumer sectors. Its portfolio encompasses connected vehicle systems, audio-visual equipment, and business automation. The firm began its operations in India in 2008 and currently has more than 9000 employees in eight different cities.
Since its inception, Harman has partnered with Wipro Technologies in Bengaluru, including managing the Harman India Development Centre at Wipro’s sites in Bengaluru and Chennai. In 2017, Samsung purchased Harman International Industries for approximately $8 billion.
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Although the automotive sector continues to be its main source of revenue, the Indian DTS division has notable operations in healthcare, communications, and industrial fields. Services encompass assistance for life sciences companies in clinical trials, adherence to regulations, and integrated industrial networks.
Wipro Technologies has been continuously growing by means of acquisitions. In 2024, it acquired Aggne Global, a US insurance technology company, and Applied Value Technologies, an IT consulting business. It additionally acquired a 27 percent share in the automotive software marketplace SDVerse.
Past transactions involve the purchase of SAP consultancy Rizing Intermediate Holdings in 2022 for $540 million and its biggest acquisition, the global consultancy Capco, for $1.45 billion in 2021.
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Simultaneously, Warburg Pincus has a track record of investing in digital services and outsourcing. It once possessed Encora, which was sold to Advent International in 2021, and currently supports Perfios, a SaaS firm for the BFSI industry active in 18 nations.