Wipro acquires Canadian company Atco I-Tek for Rs 1,170 crore [India Business] [Times of India]
(Times of India Via Acquire Media NewsEdge) BANGALORE: Wipro has acquired Atco I-Tek, the IT services arm of Canadian logistics and utilities provider Atco, for $195 million (Rs 1,170 crore) - its second biggest acquisition ever. The acquisition comes bundled with a 10-year, $1.12 billion IT outsourcing deal from the Canadian company, the largest contract in Wipro's history. It would mean revenues of $112 million annually for the next ten years.
Atco I-Tek has large operations in Western Canada, and offers end-to-end IT services in managed infrastructure services, applications management services, and customer care and billing. It has over 700 employees and expertise in over 750 applications.
"As part of the deal, we will be taking over 500 employees in Canada and 50 employees in Australia," Anand Padmanabhan, chief executive of Wipro's energy, natural resources and utilities business, said.
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