Information Technology services major Wipro Ltd said on Thursday it would buy privately-held British consultancy firm Capco for $1.45 billion.

London-based Capco serves banking and financial institutions across the Americas, Europe and Asia-Pacific regions, Wipro said in a regulatory filing adding that Capco services clients in the energy and commodities trading sector as well.

Capco has an experienced executive team withover 5,000 employees across the globe including India, US, UK, France, Germany, Poland, Slovakia, Austria, Poland, Switzerland, Brazil, Singapore, Malaysia and Hong Kong.

The firm will operate as a separate unit (Capco – A Wipro Company), the IT services major said.

With the acquisition, Wipro claims to be “one of the largest providers of integrated, end-to-end consulting, digital, cloud and IT transformation services at scale,” the company stated.

By combining Wipro’s capabilities in strategic design, digital transformation, cloud, cybersecurity, IT and operations services with Capco’s domain and consulting strength, clients

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BENGALURU: Wipro Ltd said on Thursday it would buy British consultancy Capco for US$1.45 billion in cash, as the Indian software giant looks to boost its offerings for the financial services industry that generates the bulk of its revenue.

London-based Capco makes 96per cent of its revenue from Europe and North America, from where Indian IT services companies have traditionally won the most lucrative contracts.

Wipro and its rivals including Infosys Ltd and Tata Consultancy Services Ltd have become major global players, offering services spanning from back-office work for banks to social media content moderation as well as traditional technical support.

Capco will give Wipro access to 30 new large banking and financial clients and make the Indian firm one of the largest end-to-end consulting and technology service providers to that industry globally, Wipro said.

Banking and financial clients account for nearly a third of Bengaluru-headquartered Wipro’s revenue,

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