Partners at boutique firm TechneGroup are happy that their company was bought out by Wipro for a healthy sum of $45 million. The firm is a provider of software and services in the computer-aided design and product lifecycle management space.
It is based in Milford, Ohio but also has offices in the UK, Italy, Israel and Germany. With a focus on the aerospace, automotive, and healthcare space, TechneGroup has had a nice string of major client engagements.
“This acquisition complements Wipro’s core strengths in industry 4.0 and allows us to offer end-to-end solutions in digital engineer and manufacturing,” stated Harmeet Chauhan, senior VP for industrial and engineering services at Wipro. The acquired firm is supported by approximately 130 employees and in 2018 generated $23.2 million.
TecheGroup was founded in 1983 with a mission to help 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 its clients could not overcome on their own. Today, the company is the global leader providing reliable interoperability, validation and migration solutions for product data and related systems.