Wipro Acquires Edgile For $230 M To Add Cybersecurity Muscle To its Portfolio
Wipro, which acquired Edgile in 2016 for $230 million, today announced it will pay $250 million in stock to buy the Palo Alto, Calif.-based cybersecurity firm that makes threat monitoring software called ThreatIQ.
Wipro aims to develop an integrated suite in collaboration with Edgile that will enable enterprises to quick & seamless digital transformation. A prominent IT consulting firm, Wipro announced the acquisition of Edgile, a cybersecurity consulting firm for a purchase consideration of $230 million.
The IT consulting firm, through this acquisition, intends to strengthen its hold in the cybersecurity space. A statement released on Monday by Wipro read, “Edgile is recognized by security and risk leaders for its unique business-aligned cybersecurity capability, deep understanding of the changing regulatory environment, and enabling cloud transformations that help secure the modern enterprise”.
This is an interesting article. It says that Wipro has over 220,000 employees at present and Edgile customers comprise 31% of the Fortune 100 and about 20% of the Fortune 500. After the announcement, Wipro shares jumped 2% in early trading.
The counters closed at Rs 665.96 per share and at that price, the deal is expected to close by March 31, 2022, after approval from the Committee on Foreign Investment and the Hart-Scott-Rodino Antitrust.
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The Duo To Develop An Integrated Suite – Wipro Cyber Transform
Wipro and Edgile together will foster Wipro CyberTransform – a coordinated suite to empower associations to upgrade digital protection gambles, put resources into strong digital systems, and gain the advantages of functional security in real life.
In addition, the Wipro Cyber Transform will likewise permit ventures to accelerate their computerized change and work safely in virtual, advanced supply chains.
Senior VP and Global Head of network protection and chance administrations at Wipro Limited, Tony Buffomante, said, “Adding the key counseling abilities of Edgile and carrying out Wipro Cyber Transform are critical achievements on our excursion to turning into the confided in accomplice to security pioneers and meeting room partners”.
Recently, the IT Consulting monster built up its network protection business by securing Ampion, an Australian-based network protection administrations supplier, alongside the network protection practice at Capco.