Wipro is in talks with UK-based outsourcing group Equiniti for a potential takeover that could be valued at about £1 billion (Rs 9,900 crore). If the talks conclude successfully, it will be one of Wipro's largest acquisitions with Equiniti seeking a valuation of close to £1 billion.
Purchasing Equiniti will help the company gain access to large FTSE-100 clients in the UK and further bolster its business process outsourcing business, which contributes about 10% to its annual revenue and grew 13.3% in the previous financial year. Equiniti, which is owned by private equity player Advent International, has an annual turnover of £292.3 million.
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