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Indian IT services firm Wipro announced an all-cash deal to acquire UK-based consultancy Capco for about $1.45 billion, one of its largest purchases to date. The deal positions Wipro to expand its presence in the global banking, financial services and insurance (BFSI) market by bringing in Capco’s strong domain expertise and established client base, especially across Europe and the Americas. Capco, headquartered in London, provides management and technology consulting to financial institutions and has more than 5,000 consultants serving major global clients. The acquisition is expected to close in the quarter ending June 2021, subject to regulatory approvals.
Wipro Chairman Rishad Premji framed the move as part of a shift toward bolder strategic growth, reinforcing consulting and digital transformation services. Capco will continue operating independently under Wipro, preserving its brand and leadership while gaining access to Wipro’s broader technology and transformation capabilities. Combining Wipro’s strengths in strategic design, cloud, cybersecurity, and IT services with Capco’s consulting expertise aims to create an integrated consulting and tech transformation partner for financial services clients worldwide. The deal will make Wipro one of the largest end-to-end consulting and IT transformation service providers in the BFSI sector.
