Wipro to acquire UK-based consultancy Capco for $1.45 billion – Times of India
BENGALURU: Bengaluru-headquartered IT companies main Wipro Limited on Thursday introduced that it has signed an settlement to acquire Capco, a world administration and know-how consultancy to banking and monetary companies trade, for $1.45 billion.
This acquisition will make Wipro one of the biggest end-to-end international consulting, know-how and transformation service suppliers to the banking and monetary companies trade, a Wipro assertion mentioned.
“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 assertion mentioned.
Capco supplies digital, consulting and know-how companies to monetary establishments within the Americas, Europe and the Asia Pacific.
London-headquartered Capco’s purchasers embody many marquee namesin the worldwide monetary companies trade.
Over the previous 20 years, the corporate has labored carefully with enterprise leaders, together with Boards and C-Suites within the banking, capital markets, wealth, asset administration and insurance coverage sectors.
It is broadly acknowledged for its deep area and consulting experience, danger and regulatory choices and thought management round key trade know-how challenges and alternatives.
In addition, Capco companies purchasers within the vitality and commodities buying and selling sector, the assertion mentioned.
Capco has an skilled govt crew and over 5,000 enterprise and know-how consultants based mostly throughout greater than 30 international places supporting purchasers via their knowledgeable insights, entrepreneurial strategy and concentrate on supply excellence, in accordance to Wipro.
CEO and Managing Director of Wipro Limited, Thierry Delaporte,mentioned, “Together, we can deliver high-end consulting and technology transformations, and operations offerings to our clients.”
“Wipro and Capco share complimentary business models and core guiding values, and I am certain that our new Capco colleagues will be proud to call Wipro home.”
CEO of Capco, Lance Levy, mentioned…”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.”
The acquisition is topic to customary closing circumstances and regulatory approvals and is anticipated to shut within the quarter ending June 30, 2021, it was said.
