Wipro to buy BPaaS provider Viteos Group for $130 million – IT Consulting Company, Wipro, has announced that it has signed a definitive agreement to acquire Viteos Group, a BPaaS provider for the Alternative Investment Management Industry for $130 million.
The company specializes in Platform-led Transformation and utility-based offerings in KYC, Reconciliation, Middle Office, Settlements, Asset Servicing, Reference Data Solutions and Syndicated Loans. These credentials of Wipro are mainly on the Sell-Side and this acquisition will add similar capabilities on the Buy-Side.
The Viteos Group provides custom-made straight-through-processing and integrates post-trade operations across every currency, asset class, border or structure for the alternative investment management industry in the US, Asia and Europe.
Viteos licenses its proprietary platform which offers transformation and integration of post-trade operations. This platform can be supplemented to launch solutions across other segments of capital markets. These technology-based solutions will bring in non-linear and higher revenue realization.