Wipro up 3% on acquisition plan of US-based Cybersecurity Firm Edgile

The acquisition is expected to strengthen Wipro's capabilities in cloud security and risk management space, ICICI Securities said in a note

Shares of Wipro moved higher by 3 per cent to Rs 689.80 on the BSE in Tuesday's intra-day trade after the information technology (IT) firm announced that it will acquire Austin, Texas-headquartered Edgile for $230 million. The move, it said, will strengthen the company's play in the cybersecurity services space. The stock had hit a 52-week high of Rs 739.80 on October 14, 2021.

Edgile is recognized by security and risk leaders for its unique business-aligned cybersecurity capability, deep understanding of the changing regulatory environment and enabling cloud transformations that help secure the modern enterprise. In addition, the company's