Wipro to acquire Brazil based InfoSERVER for USD 8.7 million

Wipro Ltd today announced it has signed an agreement to acquire Brazil-based IT services provider InfoSERVER S.A. For USD 8.7 million. Sao Paolo headquartered InfoSERVER, which is focussed on the Brazilian market providing custom application development and software deployment services, has some of the largest Brazilian banks as its clients, Wipro said. The acquisition will help Wipro in expanding its presence in the country's highly traditional and competitive Banking, Financial Services and Insurance market besides adding invaluable domain and process knowledge on the sector, it said in a statement here.
Wipro said the acquisition closely aligns with its vision to localise, expand its presence and become a significant partner of choice in the LATAM market and an end-to-end IT services provider that brings global expertise while operating as a local company.

Wipro has a significant presence in Latin America with offices across 5 countries in the region - Argentina, Brazil, Chile, Colombia and Mexico.
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, Ankur Prakash, Vice President and Head of New Growth and Emerging Markets, Wipro Limited, said.
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," he said.
The acquisition is subject to customary closing conditions and approvals by regulatory bodies in Brazil, the statement said.