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Wipro targets LatAm with $8.7m deal
Indian technology firm Wipro has agreed to acquire InfoSERVER, an IT service provider based in Brazil that has a focus on the financial sector. The deal will cost Wipro $8.7m.
InfoSERVER , founded in 1995, counts Banco Bradesco, one of Brazil’s largest private banks, among its customers, as well as HSBC, Allianz, and Santander. The company provides support in the areas of IT infrastructure, training, and testing.
Wipro says that the acquisition is part of a strategic initiative to expand its services in Latin America. The technology provider already has offices in five countries in the region: Argentina, Brazil, Chile, Colombia, and Mexico.
“The Latin American market and Brazil in particular is a strategic growth and investment region for Wipro,” said Ankur Prakash, vice president and head of new growth and emerging market at Wipro.
Prakash added that the 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.”