On March 4, 2021, the Bengaluru-based software company, Wipro, has announced that it will buy the British consulting firm Capco for 1.45 billion dollars. According to the company, this agreement will strengthen its presence in the banking, financial services and insurance (BFSI) space. This deal is called Wipro’s largest takeover deal in its history.

Wipro Chairman Rishad Premji told analysts hours after the announcement that this is the largest acquisition in Wipro’s history. He also shared that this deal will generate $ 700 million in revenue.

With this agreement, Wipro will join a select league of vendors that provide end-to-end solutions at scale for our clients. Banking and financial services are a high growth and priority area for Wipro that will drive accelerated growth according to the president.

He added: “I said a few months ago that you will see a bolder Wipro, a Wipro that will take more risks and shake the apple cart. This acquisition paves the way to build a bold tomorrow. “

The London-based company, Capco, is a technology and business management consulting firm with a focus on financial services and a dedicated energy division.

The agreement is an achievement of the new management under the CEO. Thierry delaporte, who was appointed to the position last year in July. Thierry is focused on returning the company to its glory and regaining market leadership that it may have lost to rivals in the past.

Wipro CEO and CEO Thierry Delaporte told analysts that financial institutions were investing in technology more than ever, Indian Express reported. “They seek to connect with customers, improve the employee experience, and create new revenue channels. So you have to play at different levels. You have to think of strategies, transformations with CXO and execute them to win. So this acquisition is strategic and comes at the right time, “he added.

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