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Software major Wipro on Tuesday announced completing the acquisition of Brazilian IT services firm InfoServer SA for $8.7 million (Rs 59 crore) on Monday. "We would like to inform that the acquisition of InfoServer has been completed on April 10.
The impact of the acquisition is expected to reflect in our financials for the quarter ending June 30, 2017," said the IT major in a regulatory filing on the BSE. The Sao Paulo-based 20-year-old InfoServer provides custom application development and software deployment services in the Brazilian market.
"The acquisition will help us expand our presence in the Brazil's traditional and competitive Banking, Financial Services and Insurance (BFSI) market and add domain and process knowledge in the sector," said the city-based company in a statement on January 25.