Wipro to buy UK-based consultancy Capco for $1.45 bn, its biggest acquisition so far

Updated : March 04, 2021 06:56 PM IST

Indian information technology firm Wipro Ltd said on Thursday it would buy privately held British consultancy Capco for $1.45 billion. This is the software company's biggest acquisition so far.

London-based Capco serves financial institutions across the Americas, Europe and Asia-Pacific regions, Wipro said in a stock exchanges filling.

Wipro said the acquisition will make it one of the largest end-to-end global consulting, technology and transformation service providers to the banking and financial services industry.

"By combining Wipro’s capabilities in strategic design, digital transformation, cloud, cybersecurity, IT and operations services with Capco’s domain and consulting strength, clients will gain access to a partner who can deliver integrated, bespoke solutions to help fuel growth and achieve their transformation objectives. the company said.

Thierry Delaporte, CEO and Managing Director of Wipro, said, “Together, we will offer bespoke transformational end-to-end solutions, now powered by innovative technology at scale, to create a new leading partner to the financial services industry."

The acquisition is subject to customary closing conditions and regulatory approvals and is expected to close in the quarter ending June 30, 2021.

Some of Wipro's other large acquisitions:

Infocrossing (acquired for $ 600 million in Aug 2007), Appirio (acquired for $ 500 million in Oct 2016), HealthPlan Services (acquired for $ 460 million in Feb 2016).

This is among the largest acquisitions since the $1.8 billion acquisition of several IBM products by HCL in 2018.

Published : March 04, 2021 05:51 PM IST

Wipro to buy UK-based consultancy Capco for $1.45 bn, its biggest acquisition so far

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