Bangalore: Software major Wipro announced that it has entered into a "definitive" agreement to acquire the global energy practice of American Management Systems under a $ 26 million cash deal that would expand its presence in the global energy and utilities market.

The global energy practice has a team of 90 domain experts and IT consultants across the US and Europe and the move strengthens Wipro's IT service offerings in the energy and utility space, a company statement said.

The acquisition, it said, complements Wipro Technologies' intellectual capital in the areas of complex billing and settlement in energy markets, systems integration, enterprise application integration and providing program management capabilities to its clients.

The statement said the acquisition brings Wipro to more than 50 client relationships with 15 active engagements across Europe and the US. The strong client base included the entire range of entities including investor owned utilities, public power utilities, regional transmission companies and independent system operators.

Sudip Banerjee, president, Enterprise Solutions, Wipro Technologies said, the acquisition enhances the company's ability to deliver end-to-end IT solutions for players in the energy and utilities space, bolstered by a global delivery model.

PTI