- Wipro Buys London-Based Company ‘Capco’ For $1.45 Billion
- The largest acquisition in Wipro’s history
- This deal will bring $700 million in revenue for the company.
Banglore: The Bengaluru-based software company, Wipro, has recently announced that it is going to buy privately-held British consultancy firm Capco for $1.45 billion. With this deal, Wipro will join a select league of providers who bring end-to-end solutions at scale to its customers.
As per the company, this deal will strengthen its presence in the banking, financial services & insurance (BFSI) space. This deal is termed Wipro’s largest acquisition deal in its history.
The largest acquisition in Wipro’s history
With this deal, Wipro Buys London-Based Company ‘Capco’ For $1.45 Billion and Wipro chairman Rishad Premji told analysts that this is the largest acquisition in Wipro’s history. He also shared that this deal will bring $700 million in revenue.
With this deal, Wipro will join a select league of providers who bring end-to-end solutions at scale to our customers. Banking and financial services is a high growth and priority area for Wipro which will drive accelerated growth as per the chairman.
I said a few months ago that You will see a bolder Wipro, a Wipro that will be more risk-taking and shake up the apple cart.
Wipro chairman Rishad Premji
He further added, “I said a few months ago that you will see a bolder Wipro, a Wipro that will be more risk-taking and shake up the apple cart. This acquisition paves the path to build a bold tomorrow.”
Wipro
Wipro Limited is a Banglore, India-based leading global information technology, consulting, and business process services company.
As a company, Wipro recognized globally for its comprehensive portfolio of services, a strong commitment to sustainability, and good corporate citizenship. Wipro has over 190,000 dedicated employees serving clients across six continents.
Capco
The London-based company, Capco, is a business and technology management consultancy firm with a focus on financial services and a dedicated energy division.
Capco’s clients include many marquee names in the global financial services industry. The company has worked closely with business leaders, over the past 20 years.
And, these names including Boards and C-Suites in the banking, capital markets, wealth, asset management, and insurance sectors and are widely acknowledged for their deep domain and consulting expertise, risk, and regulatory offerings.
Also, Capco services clients in the energy and commodities trading sector.
Capco has an experienced executive team and over 5,000 world-class business and technology consultants based across more than 30 global locations supporting clients through their expert insights, entrepreneurial approach, and focus on delivery excellence.
The deal
The deal is done by the new management under the CEO Thierry Delaporte, who was appointed to the position last year in July.
Wipro CEO and MD Thierry Delaporte said “We are very excited to welcome Capco’s admirable leadership team and employees, and global clients, to Wipro. Together, we can deliver high-end consulting and technology transformations, and operations offerings to our clients. Wipro and Capco share complementary business models and core guiding values, and I am certain that our new Capco colleagues will be proud to call Wipro home.”
Lance Levy, CEO of Capco said, “We are incredibly excited to join our new colleagues at Wipro.
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. We look forward to leveraging the complementary capabilities and similar cultures of both companies to drive industry change and offer exciting opportunities for both our clients and our people.”
Also, read Kia aims for military deployment, conduct advanced research for next-gen military vehicles