Wipro to be one of the largest providers of
integrated, end-to-end consulting, digital, cloud and IT
transformation services at scale
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading
global information technology, consulting and business process
services company, today announced that it has signed an agreement
to acquire Capco, a global management and technology consultancy
providing digital, consulting and technology services to financial
institutions in the Americas, Europe and the Asia Pacific.
London-headquartered Capco’s clients include many marquee names
in the global financial services industry. Over the past 20 years,
the company has worked closely with business leaders, including
Boards and C-Suites in the banking, capital markets, wealth, asset
management and insurance sectors and is widely acknowledged for its
deep domain and consulting expertise, risk and regulatory offerings
and thought leadership around key industry technology challenges
and opportunities. In addition, Capco services clients in the
energy and commodities trading sector.
Capco has an experienced executive team and over 5,000
world-class business and technology consultants based across more
than 30 global locations supporting clients through their expert
insights, entrepreneurial approach and focus on delivery
excellence.
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. By combining
Wipro’s capabilities in strategic design, digital transformation,
cloud, cybersecurity, IT and operations services with Capco’s
domain and consulting strength, clients will gain access to a
partner who can deliver integrated, bespoke solutions to help fuel
growth and achieve their transformation objectives.
Thierry Delaporte, CEO and Managing Director of Wipro
Limited said, “We are very excited to welcome Capco’s admirable
leadership team and employees, and global clients, to Wipro.
Together, we can deliver high-end consulting and technology
transformations, and operations offerings to our clients. Wipro and
Capco share complimentary business models and core guiding values,
and I am certain that our new Capco colleagues will be proud to
call Wipro home.”
Lance Levy, CEO of Capco said, “We are incredibly excited
to join our new colleagues at Wipro. Together, we will offer
bespoke transformational end-to-end solutions, now powered by
innovative technology at scale, to create a new leading partner to
the financial services industry. We look forward to leveraging the
complementary capabilities and similar cultures of both companies
to drive industry change and offer exciting opportunities for both
our clients, and our people.”
The acquisition is subject to customary closing conditions and
regulatory approvals and is expected to close in the quarter ending
June 30, 2021.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading
global information technology, consulting and business process
services company. We harness the power of cognitive computing,
hyper-automation, robotics, cloud, analytics and emerging
technologies to help our clients adapt to the digital world and
make them successful. A company recognized globally for its
comprehensive portfolio of services, strong commitment to
sustainability and good corporate citizenship, we have over 190,000
dedicated employees serving clients across six continents.
Together, we discover ideas and connect the dots to build a better
and a bold new future.
About Capco
Capco is a global technology and management consultancy
specializing in driving digital transformation in the financial
services industry. With a growing client portfolio comprising of
over 100 global organizations, Capco operates at the intersection
of business and technology by combining innovative thinking with
unrivalled industry knowledge to fast-track transformation
initiatives for the banking and payments, capital markets, wealth
and asset management, insurance, and the energy sector. Capco’s
ingenuity is brought to life through its Innovation Labs, and
award-winning Be Yourself at Work culture and diverse talent. To
learn more, visit www.Capco.com or follow us on Twitter, Facebook,
YouTube, LinkedIn Instagram, and Xing.
Forward-Looking Statements
The forward-looking statements contained herein represent
Wipro’s beliefs regarding future events, many of which are by their
nature, inherently uncertain and outside Wipro’s control. Such
statements include, but are not limited to, statements regarding
Wipro’s growth prospects, its future financial operating results,
and its plans, expectations and intentions. Wipro cautions readers
that the forward-looking statements contained herein are subject to
risks and uncertainties that could cause actual results to differ
materially from the results anticipated by such statements. Such
risks and uncertainties include, but are not limited to, risks and
uncertainties regarding fluctuations in our earnings, revenue and
profits, our ability to generate and manage growth, complete
proposed corporate actions, intense competition in IT services, our
ability to maintain our cost advantage, wage increases in India,
our ability to attract and retain highly skilled professionals,
time and cost overruns on fixed-price, fixed-time frame contracts,
client concentration, restrictions on immigration, our ability to
manage our international operations, reduced demand for technology
in our key focus areas, disruptions in telecommunication networks,
our ability to successfully complete and integrate potential
acquisitions, liability for damages on our service contracts, the
success of the companies in which we make strategic investments,
withdrawal of fiscal governmental incentives, political
instability, war, legal restrictions on raising capital or
acquiring companies outside India, unauthorized use of our
intellectual property and general economic conditions affecting our
business and industry. The conditions caused by the COVID-19
pandemic could decrease technology spending, adversely affect
demand for our products, affect the rate of customer spending and
could adversely affect our customers’ ability or willingness to
purchase our offerings, delay prospective customers’ purchasing
decisions, adversely impact our ability to provide on-site
consulting services and our inability to deliver our customers or
delay the provisioning of our offerings, all of which could
adversely affect our future sales, operating results and overall
financial performance. Our operations may also be negatively
affected by a range of external factors related to the COVID-19
pandemic that are not within our control. Additional risks that
could affect our future operating results are more fully described
in our filings with the United States Securities and Exchange
Commission, including, but not limited to, Annual Reports on Form
20-F. These filings are available at www.sec.gov. We may, from time
to time, make additional written and oral forward-looking
statements, including statements contained in the company’s filings
with the Securities and Exchange Commission and our reports to
shareholders. We do not undertake to update any forward-looking
statement that may be made from time to time by us or on our
behalf.
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version on businesswire.com: https://www.businesswire.com/news/home/20210304005536/en/
Wipro Media Contact: Purnima Burman Wipro Limited
purnima.burman@wipro.com
Capco Media Contact: Tim Steele Capco
tim.steele@capco.com
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