Wipro has said that it will acquire the US-based Viteos Group for USD 130 million (nearly Rs 861 crore). It will help the country’s third-largest IT services firm strengthen its position in the capital markets outsourcing space. Founded in 2003 and headquartered in Somerset, New Jersey, the Viteos Group provides customised straight-through-processing and integrates post-trade operations across every asset class, currency, border or structure for the alternative investment management industry in the US, Europe and Asia.

A leading player in shadow-accounting services, the company offers middle and back-office outsourcing through its over 400 employees. Viteos’ technology-based solutions will bring in non-linear and higher revenue realisation. The acquisition is subject to customary closing conditions and regulatory approvals and will be completed in the quarter ending March 2016.

WIPRO

• Wipro is headquartered in Bangalore.
• To focus on core IT Business, it demerged its non-IT businesses into a separate company named Wipro Enterprises Limited with effect from 31 March 2013
• Wipro won 7 awards, including Best Managed IT Services and Best System Integrator in the CIO Choice Awards 2015, India.
• Azim Premji is the current MD and Chairman of Wipro.