Wipro has agreed to takeover Capco for $1.45 billion, in its largest purchase to spur growth that has been falling behind local competitors.
Capco staffs 5,000 consultants and will help Wipro add on banking, insurance and financial services clients. It is predicted for the deal to close by June 30th. This acquirement will help Wipro add 30 new clients.
In a presentation, the Indian software exporter said, “Although revenue synergies and growth acceleration are the primary objectives of the acquisition, there are identified cost synergies to be realized post-integration.”
Capco has a skilled executive team and more than 5,000 world-class business and technology consultants based around over 30 worldwide locations supporting clients through their expert awareness, entrepreneurial approach and concentrate on delivery excellence.
Wipro’s shares have risen 0.8% to 438.8 rupees in Mumbai prior to the company revealing the deal. The takeover will take place based on conditions and regulatory agreement.
The newest purchase is the company’s largest since the company took over Infocrossing Inc. for $548 million in 2007. Capco’s revenue was $700 million in 2020.