Wipro to buy USA’s Opus CMC to pep up mortgage biz
3 Dec 2013 11:20 PM GMT
India’s third largest software services firm Wipro on Monday said that it will acquire US-based Opus Capital Market Consultants for $75 million (Rs 467 crore) to strengthen its mortgage business in North America.
The acquisition, which is expected to be completed in the fourth quarter (January-March) of 2013-14 fiscal, will aid Wipro in managing risks and identifying profitable growth opportunities in the existing loan portfolio as well as new originations.
The purchase agreement of $75 million includes a deferred earn-out component, Wipro said without giving further details of the deal with. It will also strengthen the company's mortgage (home loans) solutions and outsourcing business, Wipro said.
The acquisition, which is expected to be completed in the fourth quarter (January-March) of 2013-14 fiscal, will aid Wipro in managing risks and identifying profitable growth opportunities in the existing loan portfolio as well as new originations.
The purchase agreement of $75 million includes a deferred earn-out component, Wipro said without giving further details of the deal with. It will also strengthen the company's mortgage (home loans) solutions and outsourcing business, Wipro said.
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