Wipro set to shell out $8.7 million for Brazil's InfoSERVER

Wipro Ltd on Wednesday announced it has signed an agreement to acquire Brazil-based IT services provider InfoSERVER S.A. for $8.7 million.

Sao Paolo headquartered InfoSERVER, which is focussed on the Brazilian market providing custom application development and software deployment services, has some of the largest Brazilian banks as its clients, Wipro said.

The acquisition will help Wipro in expanding its presence in the country's highly traditional and competitive Banking, Financial Services and Insurance market besides adding invaluable domain and process knowledge on the sector, the company said in a statement here.