Wipro Ltd., an Indian IT and consulting conglomerate announced that it has inked an agreement to acquire Edgile, a transformational cybersecurity consulting firm based in Austin, Texas. Wipro will pay $230 million in cash to acquire the company in order to strengthen its foothold in the constantly advancing cybersecurity services industry.
Edgile’s experienced cybersecurity and risk management professionals would empower Wipro to significantly expand its cybersecurity and risk consulting expertise for the benefit of its customers, the Indian IT major said in a regulatory filing. Moreover, the company’s ‘strategy-first’ approach and ‘Quick Start’ technologies will enable the unified entity to provide greater value in strategic cybersecurity services, it added.
The filing also states that Wipro and Edgile will team up to build Wipro CyberTransform, an integrated suite that will facilitate enterprises to strengthen boardroom governance of cybersecurity risk, reap the benefits of practical security in action and invest in robust cyber strategies. Wipro CyberTransform, in collaboration with a comprehensive portfolio of alliance partners from Wipro and Edgile, will encourage organizations to boost their digital transformation and engage in virtual, digital supply chains in a highly secure fashion, it added.
Edgile, founded in 2001, is an information security consulting corporation that provides professional services, mostly to businesses in the fields of cybersecurity and risk management. It is a privately owned company with 182 employees onsite.
The company revenue for the fiscal year ending December 31, 2020, was $44.1 million. Revenues in the previous two years were $43.2 million and $33.7 million, respectively. As a result of this acquisition, Abry Partners, a minority private equity investor in Edgile, will completely exit its investment.
Commenting on the acquisition, Tony Buffomante, SVP and Global Head of Cybersecurity and Risk Services at Wipro Ltd. in a statement said, “Adding Edgile’s strategic consulting capabilities and launching Wipro CyberTransform are significant milestones on our journey to becoming the trusted partner to security leaders and boardroom stakeholders.”
The acquisition of Edgile, which provides consulting services for cybersecurity risk & compliance, information & cloud security, including digital identity, will be the eighth acquisition for the Bengaluru-based IT services behemoth since Thierry Delaporte took over as CEO in October 2020.
Delaporte has overseen Wipro’s acquisitions of companies including Ampion, 4c, Eximus Designs, and Brazil-based IVIA, to name a few, and in March 2021, the company also completed the company’s largest-ever acquisition of Capco, a London based technology consultancy to the banking and financial services industry for $1.45 billion.
In addition, as part of its $700 million digital and IT partnership with Metro AG, the IT services conglomerate has acquired American system integrator LeanSwift, Encore Theme Technologies, and METRO-NOM & METRO Systems Romania.