Indian IT giant Wipro to take over IVIA Servicos de Informatica of Brazil
NEW DELHI, NNA – Indian business processing technology giant Wipro Ltd. will acquire its Brazilian peer IVIA Servicos de Informatica Ltda. for $22.4 million to expand business in Latin America’s largest economy, the Bangalore-based company said Tuesday.
Wipro has signed an agreement to buy IVIA and is scheduled to make the acquisition by the end of September.
With this takeover, the Indian IT giant will set up a new business hub in northeastern Brazil at the current IVIA headquarters. The Indian firm will (use IVIA’s talent and client network in pursuit of new business in Brazil, Wipro said in a statement on Tuesday.
Wipro intends to use its acquisition as well to increase presence throughout Latin America. It already has business hubs in Brazil, Mexico, Chile, Colombia and Costa Rica, the statement said.
“We continue to make strategic investments in this region and this acquisition will help Wipro address the needs of clients across multiple verticals,” Wipro Vice President Mukund Seetharaman said in a statement. “Wipro’s digital capabilities combined with IVIA’s strengths will maximize benefits for clients.”
Alexandre Menezes, founder and chief marketing officer of IVIA, welcomed the takeover as a way to “leverage information technology to empower people.
“Wipro’s fast-growing presence in the region, digital transformation capabilities, its global customer portfolio and delivery model will help our talent and customers immensely,” Menezes said in the same statement.
Wipro develops technology, does consulting and offers business process services. Its employs more than 180,000.
IVIA, set up in 1996, does system development, maintenance and consulting. Clients include Brazilian financial institutions, transportation operators, retailers and manufacturers. The company employs over 750 professionals and posted 2019 sales of $13.5 million.