IVIA’s local talent and long-standing relationships, combined with Wipro’s global expertise, will help expand the information technology firm’s geographical footprint in Brazil, Wipro said in a statement.
The acquisition will also help Wipro set up delivery centres in the northeast of Brazil leveraging IVIA’s workforce, it added.
In a regulatory filing, Wipro said the purchase consideration was USD 22.4 million, and the transaction is expected to be completed during the quarter ending September 30, 2020, subject to customary closing conditions.
IVIA is privately held and has a workforce of around 722 employees (as of December 2019). It had reported a net revenue of USD 13.5 million for the year ended December 31, 2019, it added. Wipro has a significant presence in Latin America with offices across five countries in the region.