Wipro, India’s largest IT company, has bought Capco, a UK-based banking and financial services company, for Rs 105 billion. Wipro has issued an official statement in this regard.
The company said in a statement that Wipro will make strong strides in the banking and financial services sector shortly. Therefore, it is hoped that the purchase of Capco will attract new customers in the sector.
This is the largest transaction ever made by Wipro. Capco is headquartered in London. Through this company, services are provided to companies from all over the world in the banking and financial services sector.
Wipro’s profit rose 20.8 percent in the last quarter of last year. The company had a net profit of Rs 2,967 crore in the last quarter. At the same time, the company’s revenue rose 1.3 percent to Rs 15,670.
Wipro’s chief executive officer and managing director Thierry Delaporte said that the working models of Wipro and Capco complement each other. He is sure that Capco will feel proud to join us with Wipro as his new home. Capco CEO Lance Levy said that the two companies would together provide their customers with complete rejuvenation solutions to suit their needs.
Wipro said in regulatory filings that Wipro’s capabilities in strategic design, domain and consulting, digital transformation, cloud, cybersecurity, data, and IT services to customers, and Capco’s capabilities in banking, payments, capital markets, insurance, risk, and regulatory offerings Will benefit
Capco started in 1998 and has more than 100 customers. Some of them have been associated with it for a long time. The company has 5,000 consultants working in its 30 establishments set up in 16 countries. The company earned $ 72 million in 2020.