Wipro on Thursday said it would acquire Denmark-based design firm Designit for a purchase consideration of €85 million (about Rs.595 crore).

In a statement, Wipro Digital, announced its intention to acquire Designit, a company specialises in designing transformative products-service experience. The purchase consideration includes a performance based contingent consideration payable over three years.

“This investment marks a further stage in Wipro’s move to evolve the digital offer it takes to market, combining its reputation and heritage in deep engineering and transformative technology with human-centred design methods,” the company said in the filing.

Wipro Digital Services is a recently formed business unit which comes under Business Application Services (BAS) and this will be the first acquisition by Wipro Digital. BAS accounts for around 29 per cent of the company’s overall revenue.

The acquisition is subject to customary conditions and regulatory approvals and is expected to be closed in the current quarter, added Wipro. Final Payout could range between 70 -105 per cent of purchase consideration.

Founded in 1991, Designit employs more than 300 people in its nine offices globally. In calendar year 2014, the company had a revenue of €27 million.