Trade spend promotions acquisition drives big data services and signals Indian expansion
Announcement posted by SalesAtWork - Trade Promotions Management 25 Jun 2012
India IT outsourcing major Wipro has reached a deal to acquire privately held solution provider, Promax Applications Group, for A$35 million ($36.6 million).
Founded in 1989, Australia based Promax is specialised trade promotion management.
The acquisition will be completed by the end of this quarter and newly formed entity will be called as Wipro Promax Analytics Solutions Pty Ltd.
Promax’s portfolio focuses on identifying trends for clients in their respective industries, making other trade promotion related contributions and providing feedback throughout the trade lifecycle.
Companies spending on trade promotion can be from 12 to 25 per cent of their gross annual sales. Nearly 44% of Big Data revenue is accounted to come from trade promotion management services. The Big Data market is expected to reach $50 billion mark worldwide by 2015.
Wipro has been looking to enter Big Data solutions for some time. The acquisition of Promax will reinforce Wipro’s presence in Australian market and strengthen their capabilities in analytics solutions. Last year alone, the Bangalore based company notched up more than $600 million in revenue from analytics and information management services.
The eyes of the India’s IT industry are turning to overseas markets like Australia for fresh business opportunities and a reduced dependence on the US market. India is now looking at Australia to drive innovation and build their local strength.
Australia and India are a natural fit, our shared background of British colonial rule, our love of cricket and high technology.
There are hundreds of niche and mass market opportunities in Australia- most immediately lucrative being Cloud and Big Data – waiting to be tapped, offering massive opportunities to service providers and traders.
Some would say the Indian expansion in to Australia is already well underway with Mahindra Satyam's Australian unit announcing its intentions to make acquisitions worth $50-100 million in the Australian market. Then there is Infosys BPO, which had recently acquired Australian based category and sourcing management services firm Portland Group for 37 million AUD.
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Via: WhaTech