Veteran IT company Wipro is going to make its biggest acquisition so far. Under this, the company will complete the acquisition of London-based Capco for $ 145 million (about Rs 10,500 crore). Capco's business, established in 1998, is spread globally in the areas of management and technology consultancy.
In its regulatory document on the agreement, Wipro said that the deal will help Wipro to expand its IT business in banking, financial services, and insurance. Wipro CEO and Managing Director Thierry Delaporte said that Capco and Wipro's businesses have been complementary to each other. According to the data, Capco had a turnover of $ 72 million (about Rs 5,250 crore) last year. The deal is expected to be completed by June of this year.