Wipro gains on plan to acquire Opus CMC

03 Dec 2013

Wipro is currently trading at Rs. 485.95, up by 4.45 points or 0.92% from its previous closing of Rs. 481.50 on the BSE.

The scrip opened at Rs. 483.55 and has touched a high and low of Rs. 486.20 and Rs. 481.85 respectively. So far 21,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 519.50 on 15-Oct-2013 and a 52 week low of Rs. 315.30 on 31-May-2013.

Last one week high and low of the scrip stood at Rs. 485.70 and Rs. 465.40 respectively. The current market cap of the company is Rs. 1,19,568.00 crore.

The promoters holding in the company stood at 73.51% while Institutions and Non-Institutions held 13.49% and 11.06% respectively.

Wipro, a leading global Information Technology, Consulting and Outsourcing company has signed a definitive agreement to acquire Opus CMC (Opus Capital Markets Consultants LLC), one of the leading US-based providers of mortgage due diligence and risk management services, for a purchase consideration of $75 million that includes a deferred earn-out component. The acquisition will strengthen Wipro's mortgage solutions and outsourcing business and complement its existing offerings in mortgage origination, servicing and secondary market.

Opus CMC provides comprehensive risk management solutions to the mortgage industry in the United States. It has over 490 employees, including over 315 loan underwriters, spread across 5 centers in the US.

Wipro is a leading provider of analytics and information management solutions - enabling customers to derive actionable business insights from data to drive growth, enhance cost management and strengthen risk management.


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