Wipro To Buy Viteos Group For $130 Mln

(RTTNews) - Wipro Ltd. (WIT), a leading global information technology, consulting and business process services company 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 acquisition will be completed in the quarter ending March 31, 2016.

Viteos was founded in 2003 and is headquartered in Somerset, New Jersey. Viteos will retain its identity to leverage its brand in the Buy-Side and expand its offerings into the larger asset management industry with the backing of Wipro's size and presence. The management team at Viteos will continue with the business and drive the platform based outsourcing business services.