Wipro acquires Atco I-Tek for $195 million

Country’s third largest IT service provider Wipro has acquired Canadian IT Service Company Atco I-Tek for $195 million. The acquisition also includes a $1.2 billion IT outsourcing deal.

With Atco I-Tek, Wipro is going to solidify its footstep into natural gas and utilities business in Canada and overseas.

Speaking on the acquisition, Anand Padmanabhan, CEO, energy, natural resources and utilities, Wipro, said, “The transformational deal has significant business outcomes and it’s one of the largest deals for the company. We have traditionally had a strong position in the utilities space in Europe and this engagement provides momentum to our business in Canada and Australia. The alliance with Atco enhances our capability to create, nurture and tap local talent to power our growth journey in Canada.”

“As part of the deal, we will be taking over 500 employees in Canada and 50 employees in Australia,” he added.

The Atco I-Tek acquisition is Wipro’s second-largest purchase after it buyout US-based IT infrastructure management company Infocrossing at $600 million in 2007. Wipro also acquired Science Applications International Corporation (SAIC) for $150 million in 2011.

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