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India’s Wipro to buy British consultancy firm Capco for $1.45bn
- Friday | 5th March, 2021
BENGALURU (Reuters) – Wipro Ltd said on Thursday it would buy British consultancy Capco for $1.45 billion in cash, as the Indian software giant looks to boost its offerings for the financial services industry that generates the bulk of its revenue. London-based Capco makes 96% of its revenue from Europe and North America, from where Indian IT services companies have traditionally won the most lucrative contracts. This acquisition will make Wipro one of the largest end-to-end global consulting, technology and transformation service providers to the banking and financial services industry. Capco will give Wipro access to 30 new large banking and financial clients and make the Indian firm one of the largest end-to-end consulting and technology service providers to that industry globally, Wipro said. Banking and financial clients account for nearly a third of Bengaluru-headquartered Wipro’s revenue, the largest from any industry.
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