Wipro has signed an agreement to acquire Brazil-based IVIA Servicos de Informatica Ltda, a specialized IT Services provider to Financial Services, Retail and Manufacturing sectors in Brazil. 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.
The acquisition will also help Wipro set up delivery centres in the northeast of Brazil leveraging IVIA's workforce. The purchase consideration was $22.4 million (about Rs 169 crore), and the transaction is expected to be completed during the quarter ending September 30, 2020.
Wipro is a leading global information technology, consulting and business process services company.
