Wipro to buy global consultancy firm Capco for $1.45 billion

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Bangalore: Wipro has signed an agreement to acquire Capco, a global management and technology consultancy for $1.45 billion. Capco provides consultancy services to banking and financial services industry.

London-headquartered Capco’s clients include many marquee names in the global financial services industry. The company is known for its deep domain and consulting expertise, risk and regulatory offerings and thought leadership. In addition, Capco services clients in the energy and commodities trading sector.

Capco has an experienced executive team and over 5,000 business and technology consultants based in more than 30 global locations.

This buyout will make Wipro one of the largest global consulting, technology service providers to the banking and financial services industry.

“We are very excited to welcome Capco’s admirable leadership team and employees, and global clients, to Wipro,” said Thierry Delaporte, CEO and MD – Wipro Limited.

“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,” added Delaporte.

“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,” said Lance Levy, CEO – Capco.

“We look forward to leveraging the complimentary capabilities and similar cultures of both companies to drive industry change and offer exciting opportunities for both our clients and our people,” added Levy.

The acquisition is subject to customary closing conditions and regulatory approvals. It is expected to close in the quarter ending June 30, 2021.

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