Wipro to amass Capco for $1.45 billion, its greatest ever purchase

In what will probably be its greatest acquisition, software program providers firm Wipro Ltd mentioned Thursday it will purchase privately-held British consultancy agency Capco for $1.45 billion. The Azim Premji-promoted agency mentioned the acquisition would catapult it to one of many largest end-to-end international consulting, expertise and transformation service suppliers to the banking and monetary providers business.
The Capco purchase ought to see Wipro having access to 30 new giant BFSI shoppers. Wipro CEO and MD Thierry Delaporte advised analysts monetary establishments had been investing in expertise greater than ever. “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,” he added.
London-based Capco serves monetary establishments throughout the Americas, Europe and Asia-Pacific areas. Lance Levy, CEO, Capco noticed the market is stronger partly resulting from Covid-19. “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,” he mentioned.

At the tip of December 2020, Wipro had Rs 45,234 crore of money on its books. Delaporte mentioned that Capco’s experience would allow creating capabilities and applied sciences. “Scale matters and the ability to address multiple stakeholders is critical,” he added.
DD Mishra, senior director analyst, Gartner, mentioned the deal helps Wipro’s consulting organisations. “As the total number of deals coming from traditional RFP routes are falling, IT service providers need to engage early with customers across various verticals to support their journey.” —FE