BY Fraser Tennant
In a deal that will make it one of the largest providers of integrated, end-to-end consulting, digital, cloud and IT transformation services, Wipro Ltd is to acquire global management and technology consultancy Capco for $1.5bn in cash.
When combined, the capabilities of Indian multinational Wipro alongside Capco’s domain and consulting strength will deliver integrated, bespoke solutions to help fuel growth and achieve transformation objectives.
Recognised globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, Wipro has over 190,000 employees serving clients across six continents.
The acquisition of Capco, which is Wipro’s biggest since the company acquired Infocrossing Inc. for $548m in 2007, is intended to give the tech services giant a strong consulting footprint, as well as help it to regain some of the momentum the company has lost to rivals in recent years.
“We are very excited to welcome Capco’s admirable leadership team and employees, and global clients, to Wipro,” said Thierry Delaporte, chief executive and managing director of Wipro. “Together, we can deliver high-end consulting and technology transformations, and operations offerings to our clients. Wipro and Capco share complimentary business models and core guiding values, and I am certain that our new Capco colleagues will be proud to call Wipro home.”
London-based Capco has an experienced executive team and over 5000 business and technology consultants based across more than 30 global locations, supporting clients through their expert insights, entrepreneurial approach and focus on delivery excellence.
“We are incredibly excited to join our new colleagues at Wipro,” said Lance Levy, chief executive of Capco. “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.”
The acquisition is subject to customary closing conditions and regulatory approvals and is expected to close in June 2021.
Mr Levy concluded: “We look forward to leveraging the complementary capabilities and similar cultures of both companies to drive industry change and offer exciting opportunities for both our clients, and our people.”
News: Wipro to buy UK-based consultancy Capco for $1.45 billion