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Wipro will acquire Viteos Group, a BPaaS (business process as-a-service)provider for alternative investment management industry for USD 130 million in a all-cash deal.
The software company says that the acquisition will expand Wipro's capital markets portfolio in fund accounting services and enhance its business process services capabilities.
The deal is expected to be closed by fourth quarter of FY16. "Viteos's proprietary platforms, which offer transformation and integration of post-trade operations can be leveraged to launch solutions across other segments of capital market. These technology-based solutions will bring in non-linear and higher value realisation," Wipro says in a statement to the exchange.
Wipro Stock Price: On December 23, 2015, at 09:58 hrs Wipro was quoting at Rs 555.60, down Rs 0.05, or 0.01 percent. The 52-week high of the share was Rs 676.90 and the 52-week low was Rs 512.55.
The company's trailing 12-month (TTM) EPS was at Rs 33.45 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 16.61. The latest book value of the company is Rs 140.15 per share. At current value, the price-to-book value of the company is 3.96.
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