Wipro to acquire tech consultancy Capco for $1.45 billion
Mar 04, 2021
Bengaluru (Karnataka) [India], March 4 : IT software major Wipro Ltd said on Thursday it has signed an agreement to acquire Capco, a global management and technology consultancy providing digital, consulting and technology services to financial institutions in the Americas, Europe and Asia Pacific.
The acquisition will make Wipro one of the largest end-to-end global consulting, technology and transformation service providers to the banking and financial services industry.
London-headquartered Capco's clients include many marquee names in the global financial services industry. Over the past 20 years, the company has worked closely with business leaders including boards and C-suites in banking, capital markets, wealth, asset management and insurance sectors.
It is widely acknowledged for its deep domain and consulting expertise, risk and regulatory offerings and thought leadership around key industry technology challenges and opportunities. In addition, Capco services clients in the energy and commodities trading sector.
Capco has an experienced executive team and over 5,000 world-class business and technology consultants based across 30 global locations supporting clients through their expert insights, entrepreneurial approach and focus on delivery excellence.
"Wipro and Capco share complimentary business models and core guiding values. I am certain that our new Capco colleagues will be proud to call Wipro home," said Thierry Delaporte, CEO and Managing Director of Wipro.
The acquisition is expected to close in the quarter ending June 30.
Lance Levy, Chief Executive Officer of Capco, said: "We are incredibly excited to join our new colleagues at Wipro. Together, we will offer bespoke transformational end-to-end solutions now powered by innovative technology at scale to create a new leading partner to the financial services industry."
