In a potential $500 million transaction, advanced negotiations are underway for Warburg Pincus and Wipro to acquire Harman’s Indian digital transformation unit.
Warburg Pincus and Wipro Technologies are in advanced talks to acquire the digital transformation solutions (DTS) business of Harman in India, according to a report by The Economic Times. The deal could value the unit at about $500 million (₹43.75 billion).
Deutsche Bank is advising Harman, a wholly owned subsidiary of Samsung Electronics, on the potential sale. Representatives of the private equity firm Warburg are yet to comment on the matter, while Harman and Wipro Technologies have not made any official announcement.
Harman, based in the United States and known for audio brands JBL, Harman Kardon and Infinity, develops connected products and solutions for automotive and consumer markets. Its portfolio includes connected car systems, audio-visual devices and enterprise automation. The company entered India in 2008 and now employs over 9000 staff across eight cities.
Since its arrival, Harman has collaborated with Bengaluru-based Wipro Technologies, including operating the Harman India Development Centre within Wipro’s facilities in Bengaluru and Chennai. Samsung acquired Harman International Industries in 2017 for around $8 billion.
While the automotive segment remains its largest revenue source, the Indian DTS arm has significant operations in healthcare, communications and industrial sectors. Services include support for life sciences firms in clinical trials, regulatory compliance, and connected industrial ecosystems.
Wipro Technologies has been actively expanding through acquisitions. In 2024, it bought US-based Aggne Global in the insurance technology space and Applied Value Technologies, an IT consulting firm. It also purchased a 27% stake in automotive software marketplace SDVerse.
Previous deals include acquiring SAP consultancy Rizing Intermediate Holdings in 2022 for $540 million and its largest acquisition, global consultancy Capco, for $1.45 billion in 2021.
At the same time, Warburg Pincus has a history of investing in digital solutions and outsourcing. It previously owned Encora, sold to Advent International in 2021, and currently backs Perfios, a SaaS provider for the BFSI sector operating in 18 countries.
