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Prabhudas Lilladher Report
Wipro Ltd. announced acquisition of Capco, a global management and technology consulting firm in banking financial services and insurance industry for $1.45 billion, d at two times enterprise /sales.
The transaction is likely to close by Q1 FY22.
The company paid approximately 70-75% higher versus the previous transaction (FIS Global sold down 60% stake in Capco to a private equity guy in 2017 valuing the firm at $800 million), we believe this might be on account of margins improving in Capco.
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