Wipro to acquire Brazils IVIA Servicos de Informatica for $22.4mn

IVIA′s local talent and long-standing relationships, combined with Wipro′s global expertise, will help expand the IT firm′s geographical footprint in Brazil.

IT major Wipro signed an agreement to acquire Brazil headquartered IVIA Servicos de Informatica Ltd for about $22.4 million. IVIA′s local talent and long-standing relationships, combined with Wipro′s global expertise, will help expand the Bengaluru based firm′s geographical footprint in Brazil.

In a statement, Wipro said the acquisition would help it set up delivery centres in Brazil's northeast regions by leveraging IVIA's workforce. It will also help the IT major further expand its presence in the South American country.

The transaction is expected to be completed during the quarter ending 30 September 2020, subject to customary closing conditions.

"In Brazil, Wipro has a vision to grow the operations by bringing the best of its global experience to the local market and becoming a partner of choice as an end-to-end IT services provider. This acquisition is another significant step towards Wipro′s commitment to this region," the statement said.