Wipro to acquire management and technology consultancy Capco for $1.4bn


Wipro acquisition of Capco : Wipro has signed a $1.45 billion deal to acquire Capco, a London-based management and technology consultancy that provides digital, consulting, and technology services to the banking and financial services industry.

Capco’s clients are said to be several marquee players in the global financial services sector.

Over the last two decades, Capco is said to have closely worked with business leaders such as C-Suites and Boards in the banking, wealth, asset management, capital markets, and insurance sectors.

According to Wipro, the London-based firm has deep domain and consulting expertise and is known for its risk and regulatory offerings and thought leadership around major industry technology challenges and opportunities.

See also  Goodnotes acquires Trawto creator Dropthebit to revolutionize AI-powered note-taking

Additionally, Capco cater to clients across the energy and commodities trading sector.

Capco has more than 5,000 business and technology consultants based across 30 plus global locations.

Wipro acquisition of Capco - Wipro to acquire management and technology consultancy Capco for $1.4bn

Wipro acquisition of Capco – Wipro to acquire the London-based management and technology consultancy for $1.4bn. Photo courtesy of Rameshng/Wikipedia.org.

Through the acquisition, Wipro hopes to become a large end-to-end global consulting, technology, and transformation service provider to the banking and financial services sectors.

Lance Levy – CEO of Capco, commenting on Wipro acquisition of Capco, said: “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.

See also  Data privacy platform provider Privitar raises $80m in Series C round

“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.”

The combination of the Indian firm’s capabilities in strategic design, digital transformation, cybersecurity, cloud, IT and operations services with the domain and consulting strength of Capco will enable clients to get access to a partner who can provide integrated, customized solutions to help power their growth and meet their transformation goals.

See also  Maersk Drilling wins $5.4m contract for Maersk Resilient jack-up rig from Petrogas

Commenting on Wipro acquisition of Capco, Thierry Delaporte – CEO and Managing Director of Wipro, said: “We are very excited to welcome Capco’s admirable leadership team and employees, and global clients, to Wipro.

“Together, we can deliver high-end consulting and technology transformations, and operations offerings to our clients. Wipro and Capco share complementary business models and core guiding values, and I am certain that our new Capco colleagues will be proud to call Wipro home.”

The deal, which is subject to regulatory approvals and customary closing conditions, is anticipated to be wrapped up in the quarter ending 30 June 2021.

Share This