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Motilal Oswal Report
Wipro Ltd. announced the acquisition of Capco, a London-based banking financial services and insurance-focused business and technology consulting firm, for a sum of $1.45 billion on March 03, 2020.
We see Wipro’s aspiration to scale up its BFSI practice as a positive, especially given the potential spend by large banks on technology over the next few years.
Moreover, Indian IT companies have historically lagged behind their global peers in terms of consulting capabilities – this is a gap that Capco could bridge for Wipro.
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