IT service giant Wipro recently signed an agreement to acquire InfoSERVER SA, an IT service provider focused on the Brazilian market for USD 8.7 million.
InfoSERVER, which has some of the largest Brazilian banks as its clients, will help Wipro in expanding its presence in the country’s highly traditional and competitive banking, financial services and insurance market besides adding precious domain and process knowledge on the sector. It provides custom application development and software deployment services.
“The LATAM market and Brazil in specific is a strategic growth and investment region for Wipro. This acquisition will provide Wipro with scale and key client relationships, particularly 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 said.
This acquisition closely aligns with Wipro’s vision to localize, grow its presence and become a significant partner of choice in the Latin American market and an end-to-end IT services provider that brings global expertise while operating as a local company.
With some of the largest Brazilian banks as InfoServer’s marquee clients, the buyout would be a beneficial step for Wipro. Wipro has offices across regions of Argentina, Brazil, Chile, Colombia and Mexico across the region. The acquisition is subject to customary closing conditions and approvals by regulatory bodies in Brazil.
Welcoming the acquisition, Fabiano Funari, Vice President and Head of Sales & Operations, InfoSERVER S.A. said: “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.”
Wipro to acquire Brazil’s IT firm InfoSERVER SA for USD 8.7 mn
