Wipro Ltd., a global information technology, consulting and business process services company signed an agreement to acquire InfoSERVER S.A. for BRL 27.6 Million (USD 8.7Mn). InfoSERVER, an IT services provider, which is focused on the Brazilian market, provides custom application development and software deployment services.
Two-decade old InfoSERVER, which counts M 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.