Wipro to obtain Capco, a world administration and engineering consultancy to banking and financial services field, for $ 1.45 billion

Wipro to be one particular of the most significant providers of integrated, close-to-conclude consulting, digital,

Wipro to be one particular of the most significant providers of integrated, close-to-conclude consulting, digital, cloud and IT transformation providers at scale

Wipro Restricted (NYSE: WIT, BSE: 507685, NSE: WIPRO), a foremost global information technologies, consulting and small business process providers firm, today introduced that it has signed an arrangement to get Capco, a worldwide administration and technological know-how consultancy furnishing electronic, consulting and know-how companies to fiscal institutions in the Americas, Europe and the Asia Pacific.

London-headquartered Capco’s customers include things like several marquee names in the global money expert services industry. Over the past 20 a long time, the corporation has worked carefully with business enterprise leaders, which includes Boards and C-Suites in the banking, cash markets, prosperity, asset management and insurance policies sectors and is broadly acknowledged for its deep area and consulting know-how, chance and regulatory choices and considered management all over crucial sector technologies troubles and chances. In addition, Capco solutions clientele in the electricity and commodities buying and selling sector.

Capco has an skilled executive staff and about 5,000 environment-course organization and technologies consultants primarily based across far more than 30 worldwide spots supporting clients through their professional insights, entrepreneurial solution and concentrate on shipping and delivery excellence.

This acquisition will make Wipro a person of the premier finish-to-finish world consulting, know-how and transformation provider vendors to the banking and money solutions industry. By combining Wipro’s capabilities in strategic style, digital transformation, cloud, cybersecurity, IT and operations providers with Capco’s area and consulting strength, clientele will acquire obtain to a partner who can produce built-in, bespoke alternatives to enable fuel advancement and obtain their transformation aims.

Thierry Delaporte, CEO and Handling Director of Wipro Minimal mentioned, “We are incredibly excited to welcome Capco’s admirable management group and staff, and world-wide consumers, to Wipro. Jointly, we can deliver substantial-conclusion consulting and technologies transformations, and functions choices to our customers. Wipro and Capco share complimentary business versions and core guiding values, and I am particular that our new Capco colleagues will be happy to contact Wipro dwelling.”

Lance Levy, CEO of Capco claimed, “We are unbelievably excited to join our new colleagues at Wipro. Together, we will supply bespoke transformational conclude-to-finish remedies, now run by revolutionary technological innovation at scale, to generate a new foremost associate to the monetary services industry. We appear ahead to leveraging the complementary abilities and comparable cultures of the two companies to travel business alter and supply remarkable alternatives for the two our clientele, and our individuals.”

The acquisition is matter to customary closing problems and regulatory approvals and is envisioned to close in the quarter ending June 30, 2021.

About Wipro Confined

Wipro Confined (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a foremost world-wide data engineering, consulting and business method services organization. We harness the ability of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to support our clients adapt to the digital entire world and make them successful. A organization recognized globally for its detailed portfolio of companies, powerful dedication to sustainability and excellent company citizenship, we have in excess of 190,000 focused staff members serving purchasers throughout six continents. Alongside one another, we uncover suggestions and hook up the dots to make a improved and a bold new foreseeable future.

About Capco

Capco is a world technological innovation and management consultancy specializing in driving digital transformation in the monetary products and services market. With a growing customer portfolio comprising of about 100 international businesses, Capco operates at the intersection of company and technological innovation by combining revolutionary considering with unrivalled sector knowledge to quickly-monitor transformation initiatives for the banking and payments, capital marketplaces, wealth and asset administration, insurance coverage, and the energy sector. Capco’s ingenuity is introduced to lifestyle as a result of its Innovation Labs, and award-winning Be On your own at Get the job done tradition and varied talent. To find out more, visit www.Capco.com or adhere to us on Twitter, Facebook, YouTube, LinkedIn Instagram, and Xing.

Forward-Looking Statements

The ahead-hunting statements contained herein signify Wipro’s beliefs pertaining to foreseeable future functions, lots of of which are by their mother nature, inherently uncertain and exterior Wipro’s manage. This kind of statements consist of, but are not restricted to, statements pertaining to Wipro’s progress prospects, its potential monetary running success, and its programs, expectations and intentions. Wipro cautions viewers that the ahead-searching statements contained herein are issue to threats and uncertainties that could induce real outcomes to differ materially from the results predicted by these statements. This sort of dangers and uncertainties include, but are not confined to, threats and uncertainties regarding fluctuations in our earnings, earnings and gains, our capacity to make and take care of progress, entire proposed corporate actions, intense levels of competition in IT solutions, our capability to preserve our price edge, wage raises in India, our capacity to bring in and keep really qualified industry experts, time and price overruns on fastened-price tag, fastened-time body contracts, consumer focus, constraints on immigration, our means to handle our global functions, reduced demand for technological know-how in our crucial aim regions, disruptions in telecommunication networks, our capability to properly total and integrate potential acquisitions, legal responsibility for damages on our provider contracts, the accomplishment of the firms in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, lawful constraints on boosting cash or getting companies outside the house India, unauthorized use of our mental home and basic economic conditions influencing our enterprise and marketplace. The ailments brought about by the COVID-19 pandemic could minimize technologies spending, adversely have an affect on desire for our products, influence the level of client investing and could adversely affect our customers’ means or willingness to invest in our choices, delay future customers’ purchasing decisions, adversely impact our capacity to provide on-web site consulting products and services and our inability to provide our buyers or delay the provisioning of our choices, all of which could adversely influence our upcoming income, operating effects and general economical general performance. Our operations may perhaps also be negatively influenced by a selection of exterior components related to the COVID-19 pandemic that are not within just our management. Additional threats that could have an affect on our future operating benefits are far more completely explained in our filings with the United States Securities and Exchange Fee, including, but not restricted to, Once-a-year Studies on Form 20-F. These filings are accessible at www.sec.gov. We may, from time to time, make more prepared and oral ahead-on the lookout statements, which includes statements contained in the company’s filings with the Securities and Exchange Commission and our stories to shareholders. We do not undertake to update any ahead-searching statement that may be made from time to time by us or on our behalf.

See source edition on businesswire.com: https://www.businesswire.com/news/home/20210304005536/en/

Contacts

Wipro Media Make contact with:
Purnima Burman
Wipro Minimal
[email protected]

Capco Media Make contact with:
Tim Steele
Capco
[email protected]