Indian IT major Wipro Limited has clinched an agreement to acquire London-headquartered Capco, which provides tech services across the Americas, Europe and the Asia Pacific.
India’s Wipro Limited, a leading global information technology, consulting and business process services company, 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 says it 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.
This acquisition is expected to make Wipro one of the largest end-to-end global consulting, technology and transformation service providers to the banking and financial services industry.
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.”
Capco boasts of 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.
By combining Wipro’s capabilities in strategic design, digital transformation, cloud, cybersecurity, IT and operations services with Capco’s domain and consulting strength, the companies claim their clients will gain access to a partner who can deliver integrated, bespoke solutions to help fuel growth and achieve their transformation objectives.
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 this year.
Bengaluru-headquartered Wipro pegs itself as a company that is committed to harnessing 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.
It prides itself as a company recognised for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, with over 190,000 employees across six continents.
“Together, we discover ideas and connect the dots to build a better and a bold new future,” reads the company’s mission statement.
Meanwhile, Capco pitches itself as a tech firm committed to driving digital transformation in the financial services industry. With a client portfolio comprising of over 100 global organisations, the company says it 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,” notes the company’s mission statement.