Wipro Expands into LATAM IT Market with a Fresh Acquisition
Global tech and BPO company Wipro has announced its intention to acquire Brazilian IT Services company IVIA Serviços de Informática Ltda. The new force will target IT capabilities required to meet growing demands from the Financial Services, Retail and Manufacturing Sectors in Brazil and neighboring countries in the LATAM region.
With IVIA, in Brazil, Wipro will extend its global IT expertise to the local market, delivering end-to-end IT services.
Wipro already has a significant presence in other LATAM countries — Mexico, Chile, Colombia and Costa Rica.
Founded in 1996, IVIA is a leading IT solutions provider in the LATAM IT market. It caters to a wide array of industries that seek services in IT system development, maintenance, consulting, and project management.
Wirpo chose IVIA to expand its global footprint into new markets where data centers, talent and business outsourcing costs are optimal. During the COVID-19, the pandemic crisis has disrupted the IT industry and wrecked the talent market. Despite being among the worst-hit COVID-19 countries in the world, Brazil is a very attractive market that Wirpo intends to seize with IVIA workforce in the LATAM IT market.
At the time of this acquisition news, Mukund Seetharaman, Vice President and Head of LATAM, Wipro Limited said that IVIA’s addition to the Wipro family would benefit both companies and their present customers.
.@Wipro acquires Brazilian #IT Services firm IVIA Serviços de Informática Ltda/@iviatecnologia, expanding presence, talent pool, and capabilities in #LATAM. Learn more: https://t.co/MxKvur9o5Y pic.twitter.com/n9sxw3i7Ty
— Wipro Limited (@Wipro) July 14, 2020
Mukund 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’s digital capabilities combined with IVIA’s strengths will maximize benefits for clients.”
Founder and Chief Marketing Officer of IVIA Alexandre Menezes said, “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.”
The financial detail of the deal hasn’t been disclosed. The deal is expected to close by September 30.
Currently, Wipro delivers winning business outcomes through its deep industry experience and a 360-degree view of “Business through Technology.” It provides world-class technologies built with digital strategy, customer-centric design, advanced analytics, and product engineering approach.