CAPCO ACQUISITION
Europe emerges as hotspot for Indian IT M&As, tops buy chart
Indian IT giants are on a European shopping spree, snapping up companies at a rapid clip. Europe's booming tech sector, outpacing North America, has fueled over a dozen acquisitions since the Covid pandemic.
Wipro acquires US insurtech firm Aggne Global for $66 million
Wipro will acquire 60% of the company in an all-cash deal, with an option to purchase the remaining stake over a period of time, as per a stock exchange filing. Revenues of the Aggne Group are $4.5 million for calendar year 2021, $9.1 million for 2022, and $17.9 million 2023.
I was brought in to transform, take tough decisions: Wipro CEO Thierry Delaporte
In an exclusive interview with ET’s Sai Ishwarbharath, Romita Majumdar and Surabhi Agarwal, Delaporte said the company is taking bold bets and decisions in order to “transform.”
Wipro will grow double digits this year again, says CEO Thierry Delaporte
“There is no reason to be worried. The business is good but there is a kind of uncertainty now that we did not have a year ago and that is the reason for being cautiously optimistic. There is a certain level of caution but we just feel that it is in this context, in this environment. ”
Acquisitions in underpenetrated spots, not looking at small targets: Wipro CFO Jatin Dalal
The Bengaluru-based firm has been aggressively pursuing its inorganic strategy, with chief executive and managing director Thierry Delaporte undertaking 12 acquisitions since he took over in July 2020.
Digitisation drives surge in M&A for technology services companies
North America and Europe continue to be focus geographies with over 35% and 45% of all M&A targets located there, respectively.
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Wipro climbs 2% on acquiring cybersecurity firm Edgile for $230 mn
According to Wipro, Edgile's "strategy-first" approach and "Quick Start" solutions will allow the combined entity to deliver enhanced value in strategic cybersecurity services.
Wipro to acquire cybersecurity consulting provider Edglie for $230 million
The acquisition of Edgile, which offers consulting services for cybersecurity risk and compliance, information and cloud security, and digital identity, will mark the Bengaluru-headquartered IT services giant’s tenth acquisition since Thierry Delaporte took over as CEO of the firm in October 2020.
How a Frenchman sitting in Paris transformed Wipro
It’s still too early to say whether Wipro CEO Thierry Delaporte’s first-year success will sustain. If it does, it would be a case study in how a new CEO transformed a company of 2.2 lakh employees, sitting remotely in Paris in 15 months.
Wipro CEO expects 30% growth, says 'big' purchase on cards
Profitability will be tested in next few quarters by attrition and Capco impact, says Wipro CEO Thierry Delaporte
Wipro expects more than 25% YoY growth this fiscal: Thierry Delaporte
“We want to focus our attention in the near future around cloud, engineering services, data, security and digital transformation. This is where we are seeing the largest increase in our pipeline.”
In Q2, Wipro will hit $10-billion revenue & gear up for next stage of growth: Thierry Delaporte
“In Q1, we are seeing very modest growth in APMEA (Asia Pacific, Middle East and Africa) and we should start to see a little more growth there in the second quarter.”
Wipro business grows 21% in Q1, ‘best ever’ quarter
On a reported basis, the company’s revenue was up 25.7% to $2.4 billion, which meant Wipro added $262 million in revenue in the last 90 days. In constant currency, Wipro’s organic growth was 13.6%, slightly lower than that of Infosys and TCS.
Wipro on fast track with strong organic growth momentum
Beating the estimates by a wide margin, Wipro reported 12.2 per cent sequential growth in revenue at $ 2,414.5 million.
Wipro to raise up to $750 million in maiden overseas bond sale
The net proceeds of Wipro’s overseas bond sale will be utilised for refinancing existing debt, general corporate purposes or any other purpose allowed under the law.
Wipro raises forecast after completing Capco acquisition, to grow 8-10% in Q1
Wipro now expects revenue of $2.32-2.37 billion for the April-June quarter, compared with the guidance of $2.19 billion to $2.23 billion given during the quarterly results announcement earlier in April.
Wipro's intent is to sign more billion-dollar deals: CEO Thierry Delaporte
With a strong revenue forecast for the first quarter of 2021-22, the stage is set for faster growth as Wipro chases large cloud transformation deals from global clients, CEO Thierry Delaporte says.
Wipro secures $1 billion ‘club loan’ to fund its Capco acquisition
The Wipro-Capco deal is the boldest bet by Wipro Chairman Rishad Premji and CEO Thierry Delaporte as the duo look to shed the company's image of a relative straggler in the Indian pure-play IT pack.
Wipro may raise over $ 1 billion to part fund Capco deal
Wipro has a cash balance of $5.8 billion but an overseas fundraising will pave the way for future acquisitions and business expansion.
Minister's mixed messages
Elsewhere in today's ETtech Evening Briefing: Deliveroo kicks off London IPO; Headwinds for Wipro-Capco deal; Google aims to support a million rural women; and other top tech news today.
Wipro's Capco acquisition may face challenges due to revenue stagnancy, integration: analysts
While the Bengaluru-headquartered IT services company’s bold decision to acquire Capco for $1.45 billion, biggest so far, is expected to give a consulting edge over its peers; equity analysts express concerns about the price of the deal and the integration between two organisations.
What the Wipro-Capco deal means for Indian IT
The Wipro-Capco deal would help Indian IT companies break into the big consulting league dominated by McKinsey and Bain & Co. They will now own the entire lifecycle—from consulting to building the technology architecture.
Most brokerages maintain neutral view on Wipro post Capco deal
Brokerages said they will watch out for signs of smooth integration of this acquisition before cheering the deal.
Wipro's $1.45 billion buyout is unlikely to give its stock price a lift. Here's why
Analysts noted that the acquisition will dilute Wipro IT services EBIT margins by 200 bps in the first year, a large component will be a non-cash charge.
Buy Wipro, target price Rs 474: Prabhudas Lilladher
Wipro, incorporated in the year 1945, is a large cap company with a market cap of Rs 231575.61 crore, operating in IT software sector.
Neutral on Wipro, target price Rs 450: Motilal Oswal
Wipro, incorporated in the year 1945, is a large cap company with a market cap of Rs 231575.61 crore, operating in IT software sector.
Wipro to acquire UK’s Capco for $1.45 billion
Announcing the all-cash deal, which ranks among the largest acquisitions by an Indian IT services company, the Bengaluru-headquartered IT major said that Capco will continue to operate as an independent entity.
Wipro to acquire UK-based Capco for $1.45 billion
The Wipro-Capco deal, among the biggest buyouts in the Indian IT space, marks the fourth acquisition by the Bengaluru-based firm since July 2020 when Thierry Delaporte took charge as Wipro CEO.
Wipro's $1.45 billion Capco deal unveils its bold and ambitious avatar
It would be difficult to brush it off as just another acquisition not only for its size, but also for the potential it holds for Wipro, which has been aggressively looking for ways to accelerate its revenue growth.
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