M&A

M&A

Wipro to acquire US-based cybersecurity consulting co Edgile for $230-M

BSE  

Listed IT Services major Wipro is to acquire Austin, Texas-headquartered Edgile, a player in the cybersecurity and risk management domain, for USD 230 million. The transaction is expected to be completed before March 31, 2022. The combined entity aims to deliver enhanced value in strategic cybersecurity services. Founded in 2001, Edgile is an information security consulting firm 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 USD 44.1 million. Abry Partners, a minority private equity investor in Edgile, will fully exit its investment as a result of the transaction. Piper Sandler acted as financial advisor to Edgile and Stone Key Partners LLC acted as financial advisor to Wipro for the transaction.