Indian software giant Wipro has acquired banking and financial services firm Capco at a price of $.145 billion. This is Wipro’s biggest acquisition ever.
London based Capco is a consultancy firm which provides digital, consulting and technology services to global banking and financial services industry.
Market analysts believe that with this latest acquisition Wipro will cement its position in Europe as a consulting and IT services provider to banking, financial services and insurance sectors.
Banking and financial services form about 30 per cent of the overall revenue of the firm and the acquisition of Capco which has around 5,000 employees in over 30 locations globally will augment this further.
Wipro’s other acquisitions include Salesforce-partner 4C based in Belgium for $79 million and Brazilian information technology firm IVIA Servios de Informatica Ltda for $22.4 million and engineering services firm Eximius Design for $80 million.
The company also acquired Encore Theme Technologies Private Limited, a software-as-a-service (SaaS) and cloud solutions provider in financial services at close to $13 million.
