Wipro’s position will strengthen in the IT sector as it is all set to acquire Edigle a cybersecurity firm. Edigle is majorly popular for its business aligned cybersecurity capability. The company has a deep understanding of changing environment financially and also cloud transformation. They help secure modern business environment as per the changing business scenarios.
The complete acquisition cost Wipro a whopping 230 million US Dollars and the transaction is expected to be completed by March 2022. This leadership will strengthen Wipro’s leadership in strategic cyber securities service. Edigle follows an approach of “Strategy First” and “Quick Start” solutions that will allow both the companies to achieve enhanced value in cyber securities service.
With the acquisition news the share price of Wipro saw a jump. Together both the companies will develop Wipro CyberTransform (Trademearked). This integrated joint suite will help enterprises intensify boardroom governance of cybersecurity risk. They plan to invest in robust security strategies that shall help reap the value of practical cyber security in businesses.
Recently Wipro has been acquiring many companies over the years to strengthen their cyber security division. They acquired Ampion a leading cybersecurity firm in Australia and Capo a firm that was operational in the Europe and US for 1.45 billion dollars. They had also acquired Eximus Designs and Brazil’s based IVIA.
Edigle was founded in 2001, reported a revenue of 441 million dollars in the years 2020, and the former years their revenue was 43.2 million dollars and 33.7 million dollars. Abry partners a small equity partner in Edgile will completely exit its investment in the company owing to this acquisition.
CEO of Edgile Don Elledge said that their cyber security risk consulting and management capabilities will help their global customers continue to embrace their digital transformation journey. Also will help sustain their risk management priorities.
