Wipro Ltd. (NYSE:WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company today signed an agreement to acquire InfoSERVER S.A. for BRL 27.6 Million (USD 8.7Mn).
InfoSERVER, an IT services provider, which is focussed on the Brazilian market, provides custom application development and software deployment services.
Two-decade old InfoSERVER, which counts some of the largest Brazilian banks as its clients, will help Wipro in expanding its presence in the country’s highly traditional and competitive Banking, Financial Services & Insurance market besides adding invaluable domain and process knowledge on the sector.
This acquisition closely aligns with Wipro’s vision to localise, expand its presence and become a significant partner of choice in the LATAM market and an end-to-end IT services provider that brings global expertise while operating as a local company. Wipro has a significant presence in Latin America with offices across 5 countries in the region - Argentina, Brazil, Chile, Colombia and Mexico.
“We welcome InfoSERVER to the Wipro family. The LATAM market and Brazil in particular is a strategic growth and investment region for Wipro. This acquisition will provide Wipro with scale and key client relationships, especially in the banking, financial services and insurance domains, which are the largest and fastest growing sectors in the region,” said Ankur Prakash, Vice President and Head of New Growth and Emerging Markets, Wipro Limited.
Welcoming the acquisition, Fabiano Funari, Vice President and Head of Sales & Operations, InfoSERVER S.A. said, “We are excited about what Wipro and InfoSERVER can accomplish together for our customers and employees. Wipro and InfoSERVER will combine strong local domain knowledge with technological breadth and global experience to help clients achieve their desired outcomes. Wipro’s global client base, delivery expertise and scale will help us expand our reach and offerings.”
The acquisition is subject to customary closing conditions and approvals by regulatory bodies in Brazil.
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of “Business through Technology.” By combining digital strategy, customer centric design, advanced analytics and product engineering approach, Wipro helps its clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, Wipro has a dedicated workforce of over 170,000, serving clients across 6 continents.
InfoSERVER started its operations in 1995 with a clear objective – to have a thorough knowledge about technologies in order to innovate, develop and offer outstanding services to the market. As its main clients have always been from the financial and banking sectors, the company has invested heavily in technologies involving information security and identity protection, and has become a member of OATH (Initiative for Open Authentication) – an organization that brings together the biggest and best players of encryption and strong authentication in the world – and has sought strategic and innovative partnerships. HQ: Sao Paulo, Brazil. Intel Capital owns 36.79% shares in Infoserver S.A.