Wipro acquires US-based Cybersecurity Firm Edgile
Published On: Tuesday, December 21, 2021 | By: Team KnowMyStock
Shares of Wipro moved higher by 3 percent to Rs 689.80 on the BSE in Tuesday's intra-day trade after the information technology (IT) firm announced that it will acquire Austin, Texas-headquartered Edgile for $230 million, a cybersecurity consulting provider that focuses on risk and compliance, information and cloud security, and digital identity. Wipro said that with Edgile, it will develop Wipro CyberTransform an integrated suite that will help enterprises enhance boardroom governance of cybersecurity risk and invest in robust strategies. In addition, the company's "strategy-first" approach and "QuickStart" solutions will allow the combined entity to deliver enhanced value in strategic cybersecurity services, Wipro said in the regulatory filing The transaction is expected to be completed before March 31, 2022, subject to regulatory approvals and customary closing conditions.
The transaction will require approval by the Committee on Foreign Investment and Hart-Scott-Rodino Antitrust in the US, it added. Founded in 2001,It is privately held and has an onsite workforce of 182 employees.
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