Wipro on Monday announced that it will acquire Austin, Texas-headquartered Edgile for $230 million. The IT major said the move will strengthen its play in the cybersecurity services space.

Together, Wipro and Edgile will develop Wipro CyberTransform™, an integrated suite that will help enterprises enhance boardroom governance of cybersecurity risk, invest in robust cyber strategies, and reap the value of practical security in action, Wipro said in a regulatory filing.

Edgile's experienced cybersecurity and risk management professionals will allow Wipro to further enhance its cybersecurity and risk consulting capabilities for the benefit of its customers, the Indian IT major added.

In addition, the company's 'strategy-first' approach and 'Quick Start' solutions will allow the combined entity to deliver enhanced value in strategic cybersecurity services, it added.

Tony Buffomante, Senior Vice President & Global Head – Cybersecurity & Risk Services, Wipro Limited, said, “Adding Edgile’s strategic consulting capabilities and launching Wipro CyberTransform™ are significant milestones on our journey to becoming the trusted partner to security leaders and boardroom stakeholders. I see the team blending very well with Wipro’s CyberSecurists to deliver transformational cybersecurity on a global scale.”

The purchase consideration is $230 million, and the transaction is expected to be completed before March 31, 2022, which is subject to regulatory approvals and customary closing conditions, the filing said.

Don Elledge, Chief Executive Officer of Edgile, said, “We are immensely thrilled to join Wipro, a company we admire for its values and deep technology capabilities. Our collective full spectrum of cybersecurity risk consulting and security management capabilities will help our global customers to continue to securely embrace their digital transformation journey and sustain their on-going risk management priorities.”

Earlier this year, Wipro strengthened its cybersecurity business by acquiring Ampion, a provider of cybersecurity services in Australia, and the cybersecurity practice at Capco, a consultancy in the BFSI sector in Europe and the US. Additionally, through its Wipro Ventures arm, the company continues to invest in cybersecurity startups.

First Published:Dec 21, 2021 8:09 AM IST