NEW YORK, March 5, 2021 /PRNewswire/ — Clayton, Dubilier & Rice announced today an agreement under which its portfolio company Capco, a global management and technology consultancy, will be acquired by Wipro Limited (NYSE: WIT), a leading global information technology, consulting and business process services company. The transaction, expected to close in the second quarter of 2021, is valued at $1.45 billion.
London-headquartered Capco provides digital, consulting and technology services to financial institutions in the Americas, Europe and the Asia Pacific. The company has worked closely with key business and operational leaders in the banking, capital markets, wealth, asset management and insurance sectors and is widely acknowledged for its domain and digital consulting expertise, risk and regulatory offerings and thought leadership around key industry technology challenges and opportunities. In addition, Capco services clients in the energy and commodities trading sector. Capco has an experienced executive team and over 5,000 business and technology consultants based across more than 30 global locations supporting clients through their expert insights, entrepreneurial approach and focus on delivery excellence.
CD&R funds acquired a 60% stake in Capco in July 2017 in a partnership transaction with the seller, FIS, which retained a 40% ownership interest in the company. CD&R Operating Partner Russ Fradin, who previously served as CEO of SunGard Data Systems (sold to…
