Wipro to acquire cybersecurity provider Edgile for $230 million

Wipro will acquire Edgile for USD 230 million will strengthen the IT major's play in the cybersecurity services space. Edgile is an information security consulting firm providing professional services, primarily focused on delivering cybersecurity and risk management consulting services to corporations. It is privately held and has an onsite workforce of 182 employees. Its revenue for the year ended December 31, 2020, stood at USD 44.1 million.

Edgile's experienced cybersecurity and risk management professionals will allow Wipro to further enhance its cybersecurity and risk consulting capabilities for the benefit of its customers. In addition, the company's 'strategy-first' approach and 'Quick Start' solutions will allow the combined entity to deliver enhanced value in strategic cybersecurity services. The purchase consideration is USD 230 million, and the transaction is expected to be completed before March 31, 2022, subject to regulatory approvals and customary closing conditions.

Together, Wipro and Edgile will develop Wipro CyberTransform, an integrated suite that will help enterprises enhance boardroom governance of cybersecurity risk, invest in robust cyber strategies, and reap the value of practical security in action. In collaboration with an extensive roster of alliance partners from Wipro and Edgile, Wipro CyberTransform will enable organizations to accelerate their digital transformation and operate in virtual, digital supply chains all in a highly secure manner.

Source: Business Standard