About
Wipro announced on Monday that it would form an integrated platform and acquire the Austin, Texas-based Edgile. According to the regulatory filings, the purchase consideration is $230 million. Wipro Ltd. is a globally leading IT, consulting, business process company that has signed an agreement to acquire Edgile to launch a more significant and more transformational cybersecurity consulting provider. The focus will move on risk, digital identity, and secure cloud.
Strategy
The acquisition is supposed to strengthen the core of the company by enhancing cybersecurity and working on the increasing demand for consultation among the 2,000 global companies.
Edgile is known for its deep understanding of the changing regulatory environment and its security and risk managing group that will enable the cloud transformations to help secure the emerging global enterprises.
The company will work on its “strategy one” and “Quick Start” solutions and work together to transform the cybersecurity consultation and its value.
Integrated suite, Wipro CyberTransform
In the regulatory file, Wipro mentions that together Edgile and Wipro will work on developing an integrated suite, Wipro CyberTransform, that will enhance the value of practical security in action, boardroom governance of cybersecurity risk, and invest in robust cyber strategies.
This massive collaboration of Wipro and Edgile, will help the organizations linked to them work on fully digitally transformed, virtual supply chains in a highly secure and safe manner.
By adding the strategic cyber-consulting capabilities of Edgile with our global Wipro, we are setting a milestone on our journey and will move towards taking CyberTransform to become a trusted partner in boardroom stakeholders and security leaders.
The teams are getting along very well and will work together to reach a height with CyberTransform, said Tony Buffomante, Senior Vice-President of Wipro Ltd.
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Setting milestone
The Chief Executive Officer of Edgile, Don Elledge, mentions how immensely thrilled he is to become a part of a global team Wipro which is about to set a huge milestone in the journey of becoming the top most cybersecurity provider.
Working with Wipro is huge as it is a company we admire of the deep tech-work and values. The integration of the firms will help all the global organizations to continue working in a safe and secure digital transformation journey.
Ampion and Capco
With the increasing demand for cybersecurity in businesses, Wipro looks at firms for integration. They acquired Ampion, an Australia-based cybersecurity company, to strengthen their business earlier this year. And after that, Capco, a consultancy business in the BFSI sector in the United States and Europe.
The company still continues to invest in cybersecurity startups to put on a face of commitment towards the industry and the business solutions.
According to the regulatory approvals and customary closing conditions, the transactions between the companies are said to be complete by the end of the business year.
On the same day of the announcement, Wipro shares lowered down to 0.76% to settle at Rs. 665.70 apiece on NSE. Due to the situation, a minority private equity investor, Abry Partners, has exited on the investment.
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