Wipro Limited acquires International TechneGroup Incorporated (ITI)
Milford, OH, USA – November 5, 2019 – International TechneGroup Incorporated (ITI), a global digital engineering and manufacturing solutions company, announces that its acquisition by Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading information technology, consulting and business process services company, completed in October.
ITI is a world leader in Computer Aided Design (CAD) and Product Lifecycle Management (PLM) interoperability software services. Through its key solutions for Model Based Enterprise (MBE), data interoperability and data migration, ITI provides the building blocks for Industry 4.0, to help build ‘next generation’ digital enterprises.
Founded in 1983 and headquartered in Milford, Ohio, USA, ITI has offices in the United Kingdom, Italy, Israel and Germany. ITI directly provides software products and services to some of the world’s leading manufacturers across aerospace, automotive, healthcare and other segments. ITI has long-standing partnerships with leading CAD, Computer Aided Manufacturing (CAM), Computer Aided Engineering (CAE) and PLM vendors, providing a variety of vendor/OEM integration and interoperability solutions.
The ITI business shall be incorporated into Wipro’s Industrial & Engineering Services business and will function as a wholly owned US subsidiary of the company. Wipro’s Industrial & Engineering Services provides customers with a platform to innovate and engineer the next generation of products and platforms at scale, using an approach termed ’EngineeringNXT’.
“As enterprises innovate and invest in ‘EngineeringNXT’, they are looking for ways to build a Digital Thread across design, engineering, and manufacturing. This acquisition complements Wipro’s core strengths in Industry 4.0 and allows us to offer end-to-end solutions in Digital Engineering and Manufacturing. We are pleased to welcome ITI’s employees and are confident that their unique offerings and solutions will add value to our organization,” said Harmeet Chauhan, Senior Vice President, Industrial & Engineering Services, Wipro Limited.
“With access to Wipro’s solutions and services, ITI will offer a broader set of solutions to assist customers in implementing Industry 4.0, PLM, MBE, and digital manufacturing initiatives at an accelerated pace,” stated Tom Gregory, CEO of ITI. “We’re excited about the CAD and PLM migration synergies created through the merger. As a Wipro company, ITI solutions will be exposed to a much larger audience across the globe. We can take on larger projects with the added strength of the Wipro team. And, we look forward to applying our technology to Wipro’s business, enhancing their existing offerings.”
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 170,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future. www.wipro.com
About International TechneGroup Incorporated (ITI)
International TechneGroup Incorporated was founded in 1983 and helps manufacturers drive innovation and time to market by applying computer-aided product development to engineering problems. Since then, the increased use of product development software and engineering systems across the enterprise created complex integration and interoperability obstacles that clients could not overcome on their own. Today, ITI is the global leader providing reliable interoperability, validation and migration solutions for product data and related systems. www.iti-global.com
Contact:
Margo Spurgeon
ITI, a Wipro company
Phone: 513-576-3858
Email: margo.spurgeon@iti-global.com
5303 DuPont Circle
Milford, OH 45150
www.iti-global.com
Wipro Media Contact:
Subhashini Pattabhiraman
Wipro Limited
subhashini.pattabhiraman@wipro.com
Investor Relations:
Aparna C Iyer
Wipro Limited
iyer.aparna@wipro.com
