News – UK – Wipro to acquire UK-based consultancy Capco for USD145 billion

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Major information technology services company Wipro Ltd announced Thursday that it would buy privately owned British consultancy Capco for $ 1.45 billion

London-based Capco serves banking and financial institutions across the Americas, Europe and the Asia-Pacific region, Wipro said in a regulatory filing, adding that Capco also serves clients in the energy and commodities trading sectors

Capco has an experienced management team with over 5000 employees worldwide, including India, USA, Great Britain, France, Germany, Poland, Slovakia, Austria, Poland, Switzerland, Brazil, Singapore, Malaysia and Hong Kong

The company will operate as a separate entity (Capco – A Wipro Company), said the IT services major

With the acquisition, Wipro claims to be “one of the largest providers of integrated comprehensive end-to-end consulting, digital, cloud and IT transformation services,” the company stated

By combining Wipro’s capabilities in strategic design, digital transformation, cloud, cybersecurity, IT and operational services with Capco’s domain and advisory strengths, customers gain access to a partner who can deliver integrated, bespoke solutions to to drive growth and achieve its transformation goals, explained the IT service company further

Thierry Delaporte, CEO and Managing Director of Wipro Limited, said: “Wipro and Capco share free business models and core guiding principles and I am sure that our new Capco colleagues will be proud to call Wipro at home”

Lance Levy, CEO of Capco, said: “We are very excited to join our new colleagues at Wipro. Together we will offer tailor-made transformative end-to-end solutions, now based on innovative technology on a large scale, to bring you one create new leading partner for the financial services industry “

The acquisition is subject to customary closing conditions and regulatory approvals and is expected to be completed on Jan. June 2021 ending quarter closed in cash

The IT services company recently joined the World Economic Forum’s “Partnering for Racial Justice in Business” initiative to promote a culture of diversity, inclusion, justice and justice for people of all races in the workplace

The initiative aims to promote action and accountability for businesses to combat racism at the systemic level, set new global standards for racial justice in businesses, and necessary policy changes to involve and promote professionals with underrepresented races and ethnic groups make identities

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Capco, Wipro, finance, information technology, information technology consulting

News – GB – Wipro takes over the UK-based consulting company Capco for USD 145 billion
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Source: https://www.livemint.com/companies/news/wipro-to-acquire-uk-based-consultancy-firm-capco-for-1-45-bn-11614859013971.html