Wipro has officially announced the acquisition of InfoSERVER, an IT service provider of Brazilian market, for $8.7mn. The agreement was announced by the company in the month of January.
Fabiano Funari, Vice President and Head of Sales and Operations, InfoSERVER 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.”
InfoSERVER will help Wipro in transformation and expansion of business in the country’s principal traditional verticals of banking, financial services and insurance along with addition in process knowledge and invaluable domain.
Wipro informed that the acquisition of InfoSERVER has been completed on April 10, 2017 and its impact will reflect in the financials of the company by the quarter ending June 30, 2017.
The acquisition is estimated to enhance business and revenue for Wipro and divulge it into an imperative brand in the Latin American market.
“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,” Ankur Prakash, Vice President and Head of New Growth and Emerging Markets, Wipro stated.