Wipro Limited is acquiring Encore Theme Technologies advised by AZB & Partners
Wipro Ltd. has announced that it has signed a definitive agreement to acquire Encore Theme Technologies Pvt. Ltd, (Encore) – a specialist in providing software-as-a-service (SaaS) and cloud solutions in financial services. The deal is valued at Rs. 950 million (approximately USD 12.8 million).
Wipro Limited is a leading global information technology, consulting and business process services company.
Chennai-headquartered Encore Theme has focused exclusively on implementing a broad suite of trade finance solutions, developed by Finastra, one of the world's largest fintechs, to financial institutions across the Middle East, Africa, India and Asia Pacific.
In a Press Release, Angan Guha, Senior Vice President and Global Head, Banking, Financial Services & Insurance, Wipro Limited said, "We are excited to have the team at Encore Theme join us. They bring a wealth of trade finance product expertise coupled with significant delivery experience of Finastra solutions for both Trade Finance and Cash Management implementations. Together with Wipro's reach across the region and proven system integration capabilities, this will help strengthen our position as a dominant player across the globe implementing Finastra solutions."
The AZB & Partners team involved in the transaction comprised of Partners – Srinath Dasari and Bhuvana Veeraragavan and Senior Associate Malaveeka Chakravarthy.