Wipro, in its biggest acquisition so far, has signed an agreement to buy London-based Capco, a global management and technology consultancy, for USD 1.45 billion.
Capco provides digital, consulting and technology services to financial institutions in the Americas, Europe and the Asia Pacific.
The deal is an all-cash one and will be funded through internal accruals and debt. The acquisition is subject to customary closing conditions and regulatory approvals and expected to close in Q1/FY22.
The 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.