Wipro Limited, on Monday, announced that it has signed an agreement to acquire Austin, Texas-based transformational cybersecurity consulting provider, Edgile. The latter focuses on information and cloud security, risk and compliance, and digital identity.
It is expected that Edgile’s “strategy-first” approach and “Quick-Start” solutions will allow the combined entity to deliver enhanced value in strategic cybersecurity services. The firm is recognized for its deep understanding of the changing regulatory environment, unique business-aligned cybersecurity capability, and enabling cloud transformations that help secure the modern enterprise.
As per the agreement, the two companies 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.
“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. I see the team blending very well with Wipro’s CyberSecurists to deliver transformational cybersecurity on a global scale.”Tony Buffomante, Senior Vice President & Global Head – Cybersecurity & Risk Services, Wipro Limited
The official document states, ‘In collaboration with an extensive roster of alliance partners from Wipro and Edgile, the suit will enable organizations to accelerate their digital transformation and operate in virtual, digital supply chains — all in a highly secure manner.’
As a result of this transaction, Abry Partners, a minority private equity investor in Edgile, will fully exit its investment in Edgile. Piper Sandler acted as financial advisor to Wipro for the transaction. The transaction is expected to be completed by the end of the first quarter of 2022.
“We are immensely thrilled to join Wipro, a company we admire for its values and deep technology capabilities. Our collective full spectrum of cybersecurity risk consulting and security management capabilities will help our global customers to continue to securely embrace their digital transformation journey and sustain their ongoing risk management priorities.”Don Elledge, Chief Executive Officer, Edgile
Wipro is strengthening its cybersecurity business and earlier this year, it has acquired an Australia-based cybersecurity services firm Ampion and a leading consultancy in the BFSI sector in Europe and the US, Capco. The It giant is also investing in innovative cybersecurity start-ups through its Wipro Ventures arm demonstrating its strong commitment towards providing industry-leading cybersecurity solutions across sectors and regions.