Bengaluru-headquartered IT providers main Wipro Limited on Thursday introduced that it has signed an settlement to accumulate Capco, a world administration and expertise consultancy to banking and monetary providers trade, for $1.45 billion. This acquisition will make Wipro one of many largest end-to-end international consulting, expertise and transformation service suppliers to the banking and monetary providers trade, a Wipro assertion mentioned.
“capabilities in strategic design, digital transformation, cloud, cybersecurity, IT and operations providers with Capco’s area and consulting power, shoppers will achieve entry to a accomplice who can ship built-in, bespoke options to assist gas development and obtain their transformation goals,” the assertion mentioned. Capco gives digital, consulting and expertise providers to monetary establishments within the Americas, Europe and the Asia Pacific.
London-headquartered Capco’s shoppers embrace many marquee namesin the worldwide monetary providers 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, threat and regulatory choices and thought management round key trade expertise challenges and alternatives. In addition, Capco providers shoppers within the vitality and commodities buying and selling sector, the assertion mentioned.
Capco has an skilled government staff and over 5,000 enterprise and expertise consultants based mostly throughout greater than 30 international areas supporting shoppers by way of their professional insights, entrepreneurial method and give attention to supply excellence, based on Wipro. CEO and Managing Director of Wipro Limited, Thierry Delaporte,mentioned, “Together, we will ship high-end consulting and expertise transformations, and operations choices to our shoppers.” “Wipro and Capco share complimentary enterprise fashions and core guiding values, and I’m sure that our new Capco colleagues can be proud to name Wipro house.” CEO of Capco, Lance Levy, mentioned…”We stay up for leveraging the complementary capabilities and comparable cultures of each firms to drive trade change and supply thrilling alternatives for each our shoppers, and our folks.” The acquisition is topic to customary closing situations and regulatory approvals and is predicted to shut within the quarter ending June 30, 2021, it was acknowledged.