Cyber-security: Wipro signs agreement to acquire Edgile

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Cyber-security: Wipro signs agreement to acquire Edgile
Cyber-security: Wipro signs agreement to acquire Edgile

The acquisition was valued at $230 million. For its unique business-aligned cyber-security capability, deep understanding of the changing regulatory environment and enabling cloud transformations that help secure the modern enterprise, Edgile, founded in 2001, is recognized by security and risk leaders

On Monday, Wipro, the information technology (IT) major has announced about signing an agreement to acquire Texas-headquartered Edgile, a cyber-security consulting provider that focuses on risk and compliance, information and cloud security, and digital identity.

The acquisition will strengthen Wipro’s leadership in strategic cyber-security services and will also address fast-growing demand for cyber security consulting among global 2,000 enterprises, the company said in a filing.

The acquisition was valued at $230 million. For its unique business-aligned cyber-security capability, deep understanding of the changing regulatory environment and enabling cloud transformations that help secure the modern enterprise, Edgile, founded in 2001, is recognized by security and risk leaders.

On Monday, Wipro shares fell 0.76 per cent to settle at Rs. 665.70 a piece on NSE.

Subject to regulatory approvals and customary closing conditions, the transaction is expected to be completed before 31 March 2022. Abry Partners, a minority private equity investor in Edgile, will fully exit its investment due to the deal.

Tony Buffomante, Senior Vice President & Global Head – Cyber-security & Risk Services, Wipro Limited, said, “Adding Edgile’s strategic consulting capabilities and launching Wipro Cyber-Transform are significant milestones on our journey to becoming the trusted partner to security leaders and boardroom stakeholders. I see the team blending very well with Wipro’s CyberSecurists to deliver transformational cyber-security on a global scale”.

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