Wipro To Acquire BFSI-Focused Management And Technology Consultancy Capco For $1.45B - Wipro (NYSE:WIT)

Global IT, consulting, and business process services company Wipro Ltd (NYSE: WIT) inked 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.