Wipro, an IT services business, has agreed to buy Edgile, a cybersecurity consulting firm based in Texas, for $230 million in cash. Wipro is looking to improve its position in the fast-growing cybersecurity services area.
Edgile, which provides cybersecurity risk and compliance consulting, information and cloud security consulting, and digital identity consultancy, will be the Bengaluru-based IT services giant’s eleventh acquisition since Thierry Delaporte took over as CEO in October 2020.
“Adding Edgile’s strategic consulting expertise and launching Wipro CyberTransform are key milestones on our drive to become the trusted partner of security executives and boardroom stakeholders,” said Tony Buffomante, Wipro’s SVP and Global Head of Cybersecurity and Risk Services.
Wipro aims to close the purchase by March 31, 2022, pending regulatory clearances from the Committee on Foreign Investment and the Hart-Scott-Rodino (HSR) Antitrust in the United States.
Edgile, which was founded in 2001, reported sales of $44.1 million in calendar year 2020, up from $43.2 million and $33.7 million in the previous two years. As a result of the transaction, Abry Partners, a minority private equity investor in Edgile, will completely exit the company.