SAN ANTONIO, Jan. 24, 2018 (GLOBE NEWSWIRE) -- Harte Hanks (NYSE:HHS), a leader in developing customer relationships, experiences and interaction-led marketing, today announced Wipro LLC (a wholly owned subsidiary of Wipro Limited) would make a $9.9 million-dollar investment in the company and the companies announced a joint go-to-market strategy to bring combined marketing and marketing technology services to large global brands. Harte Hanks and Wipro jointly issued a separate press release today on this go-to-market initiative.
To be effective, marketers need to deeply understand their customers, which requires investments in marketing tools and technology. By bundling marketing and technology solutions, Harte Hanks and Wipro will offer integrated solutions, which address marketing needs in a holistic manner.
As part of the transaction, Wipro will receive preferred stock convertible into 16% of the Company’s outstanding Common Stock on a pre-closing basis, priced at $0.991 per share of Common Stock (based on a ten-day average closing price of the underlying Common Stock). Along with customary protective provisions and a 5% dividend (payable upon liquidation events), Wipro will be able to designate an observer or director to Harte Hanks’ board of directors. The transaction is expected to close in approximately one week.
Karen Puckett, Harte Hanks’ Chief Executive Officer said, “Since announcing our joint go-to-market strategy in March, it has become clear that the opportunity to help customers to more effectively utilize marketing technology combined with providing consulting and strategy is sizable and valued in the marketplace. With this investment, Harte Hanks will formalize its relationship with Wipro and step up our combined go-to-market efforts.”
"Wipro’s investment in Harte Hanks reflects our continued commitment to offer leading-edge marketing technology and digital services that cater to the needs of Chief Marketing Officers and marketing professionals, across industry segments. This investment strengthens our existing partnership with Harte Hanks and enables us to address a key industry challenge by offering ‘Marketing as a Service’,” said Srini Pallia, President, Consumer Business Unit, Wipro Limited.
About Harte Hanks:
Harte Hanks is a global marketing services firm specializing in multi-channel marketing solutions that connect our clients with their customers in powerful ways. Experts in defining, executing and optimizing the customer journey, Harte Hanks offers end-to-end marketing services including consulting, strategic assessment, data, analytics, digital, social, mobile, print, direct mail and contact center. From visionary thinking to tactical execution, Harte Hanks delivers smarter customer interactions for some of the world's leading brands. Harte Hanks’ 5,000+ employees are located in North America, Asia-Pacific and Europe. For more information, visit Harte Hanks at www.hartehanks.com, call 800-456-9748, email us at pr@hartehanks.com. Follow us on Twitter @hartehanks or Facebook at https://www.facebook.com/HarteHanks.
As used herein, “Harte Hanks” refers to Harte Hanks, Inc. and/or its applicable operating subsidiaries, as the context may require. Harte Hanks’ logo and name are trademarks of Harte Hanks.
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 160,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
