Wipro to buy cybersecurity firm Edgile for $230 million

21 December 2021 Consulting.us 2 min. read
Profile

Wipro, an India-headquartered global IT consultancy, has acquired Edgile, an Austin-based cybersecurity consulting firm, for a purchase consideration of $230 million.

Founded in 2001, Edgile uses a strategy-first model to help organizations secure their cloud assets and identity programs. The firm has worked with 31% of the Fortune 500 and 20% of the Fortune 500.

Edgile has 182 employees and booked $44 million in revenues last year.

Wipro says it will use the acquisition to develop its CyberTransform suite, which helps clients invest in robust cyber strategies and enhance boardroom governance of cyber risk. The deal is slated to close March 31, 2022, pending regulatory approval.

Wipro to buy cybersecurity firm Edgile for $230 million

“Adding Edgile’s strategic consulting capabilities and launching Wipro CyberTransform are significant milestones on our journey to becoming the trusted partner to security leaders and boardroom stakeholders,” Tony Buffomante, SVP and global head of cybersecurity and risk services at Wipro, said. “I see the team blending very well with Wipro’s CyberSecurists to deliver transformational cybersecurity on a global scale.”

As part of the transaction, private equity firm Abry Partners will fully exit its minority stake in Edgile.

“We are immensely thrilled to join Wipro, a company we admire for its values and deep technology capabilities,” said Don Elledge, CEO of Edgile. “Our collective full spectrum of cybersecurity risk consulting and security management capabilities will help our global customers to continue to securely embrace their digital transformation journey and sustain their on-going risk management priorities.”

Wipro earlier this year strengthened its digital transformation capabilities – including cybersecurity – with the $1.5-billion acquisition of Capco, a UK-headquartered management and technology consultancy with over 5,000 people globally.

Wipro has approximately 220,000 global employees and annual revenue of $10 billion.