Wipro takes over Brazil’s banking tech and services provider, InfoServer
Wipro acquires InfoServer
Wipro has acquired InfoServer, a provider of custom application development and software deployment services to banks, financial institutions and insurance companies in Brazil.
India’s IT giant paid BRL 27.6 million ($8.7 million) for the deal.
InfoServer has been around since 1995, with Intel Capital holding a 37% stake in the company. Its customers include Banco Bradesco, BicBanco, Santander, Banco Votorantim, HSBC and Itaú.
Wipro already has an established presence in Latin America, with offices in Argentina, Brazil, Chile, Colombia and Mexico.
Ankur Prakash, VP and head of new growth and emerging markets at Wipro, describes Brazil as “a strategic growth and investment region” for the company.
The acquisition is subject to standard closing conditions and regulatory approvals.
