The biggest acquisition ever made in the history of the company, Wipro has signed a decisive agreement to acquire Capco a London-headquartered management and technology consultancy company, which offers digital, consulting and technology services to financial institutions across America, Europe and Asia Pacific region. During the quarter ending June 30, 2021 this acquisition is expected to be completed.

Capco works with more than 100 clients, some of whom embrace as world's leading financial institutions. It has over 5,000 consultants who will now be a part of Wipro. The deal will be financed through internal cash and debt.

Rishad Premji, Chairman, Wipro states, “The acquisition is in line with what the company had stated earlier that it would be a bolder, ambitious and risk taking Wipro in the future. They are looking to connect with clients, improve employee experience and to create new revenue channels. So you have to play at different levels. You need to think about strategies, transformations with CXOs and execute them to make them win. So this acquisition is strategic and comes at the right time.”

“Financial institutions have been putting technology to use faster than ever and we expect the demand to continue for some time. More clients are asking for a single services provider,” adds Rishad.