Wipro to buy Edgile for USD 230 million

21 December 2021, 11:12 am
Spread the love

Wipro on Monday said it will acquire Austin, Texas-based Edgile for $230 million, a move that will strengthen the IT major’s play in the cybersecurity services space.

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, a regulatory filing said.

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, it added.

The purchase consideration is $ 230 million, and the transaction is expected to be completed before March 31, 2022, subject to regulatory approvals and customary closing conditions, the filing said. The transaction will require approval by the Committee on Foreign Investment and Hart-Scott-Rodino Antitrust in the US, it added.

Founded in 2001, 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 $44.1 million. Abry Partners, a minority private equity investor in Edgile, will fully exit its investment as a result of this transaction.