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Market Overview

Wipro To Acquire BFSI-Focused Management And Technology Consultancy Capco For $1.45B

  • Global IT, consulting, and business process services company Wipro Ltd (NYSE: WITinked an agreement to acquire London’s management and technology consultancy for financial institutions Capco for $1.45 billion.
  • Capco owns a veteran executive team and world-class business and technology consultants based across more than 30 global locations.
  • This acquisition will consolidate Wipro’s position to become a leading end-to-end global consulting, technology, and transformation service provider to the banking and financial services industry (BFSI).
  • The combination of Wipro’s abilities in strategic design, digital transformation, cloud, cybersecurity, IT, and operations services with Capco’s domain and consulting strength will enable clients to access a partner who can deliver integrated, personalized solutions to drive growth and accomplish transformation objectives.
  • Wipro’s cash and cash equivalents amounted to $1.9 billion as of December 31, 2020.
  • Price action: WIT shares are trading higher by 2.93% at $6.66 on the last check Thursday.

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