Wipro to acquire Brazil-based IT service provider for $22.4 million

IT major Wipro on Tuesday said it has signed an agreement to acquire Brazil-based IVIA Servios de Informtica Ltda for about $22.4 million (about Rs 169 crore).

IVIA's local talent and long-standing relationships, combined with Wipro's global expertise, will help expand the information technology firm's geographical footprint in Brazil, Wipro said in a statement.

The acquisition will also help Wipro set up delivery centres in the northeast of Brazil leveraging IVIA's workforce, it added.

In a regulatory filing, Wipro said the purchase consideration was $22.4 million, and the transaction is expected to be completed during the quarter ending September 30,