IT services major Wipro said today it has completed the acquisition of InfoSERVER SA, an IT service provider focussed on the Brazilian market. The company in January had announced of signing anagreement to acquire InfoSERVER SA, for USD 8.7 million. Wipro has informed BSE about the completion of the acquisition on April 10.
It said in its communication that "The impact of InfoSERVER acquisition is expected to reflect in the financials of the Company for the quarter ending June 30, 2017."
InfoSERVER, which counts some of the largest Brazilian banks as its clients, will help Wipro in expanding its presence in the country's banking, financial services and insurance market besides adding domain and process knowledgeon the sector.
Wipro has a significant presence in Latin America with offices across five countries in the region - Argentina, Brazil, Chile, Colombia and Mexico.
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