Wipro to acquire UK based consultancy firm Capco

By Leandra Monteiro

Wipro Limited a global information technology company announced the signing of 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-based Capco has over 20 years presence in the global financial services industry with marquee clients from the banking, capital markets, wealth, asset management and insurance sectors. The company is widely acknowledged for its domain and consulting expertise, risk and regulatory offerings and thought leadership around key industry technology challenges and opportunities.

According to Wipro, the newly announced acquisition is expected to make it one of the largest end-to-end global consulting, technology and transformation service providers to the banking and financial services industry. Capco’s domain and consulting knowledge in combination with Wipro’s capabilities in strategic design, digital transformation, cloud, cybersecurity, IT and operations services, clients will be able to avail services from a partner who can deliver integrated, modified solutions to help fuel growth and achieve their transformation goals.

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.