Wipro shares gain 2% on deal to acquire US cybersecurity provider Edgile

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26 Aug, 2025 12:21

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Wipro share price added 2 percent in the early trade on December 21 on the news of its signing a deal to buy out a Texas-based cybersecurity solutions provider.

“Wipro has signed an agreement to acquire Austin, Texas, headquartered Edgile, a transformational cybersecurity consulting provider that focuses on risk and compliance, information and cloud security, and digital identity,” the company said in a release.

Edgile is recognised by security and risk leaders for its unique business-aligned cybersecurity capability, deep understanding of the changing regulatory environment, and enabling cloud transformations that help secure the modern enterprise, the statement said.

In addition, the company’s ‘strategy-first’ approach and ‘quick start’ solutions will allow the combined entity to deliver enhanced value in strategic cybersecurity services, Wipro said.

Together, Wipro and Edgile will develop Wipro CyberTransform, an integrated suite that will help enterprises enhance boardroom governance of cybersecurity risk, invest in robust cyber strategies, and reap the value of practical security in action.

In collaboration with an extensive roster of alliance partners from Wipro and Edgile, Wipro CyberTransform will enable organisations to accelerate their digital transformation and operate in virtual, digital supply chains — all in a highly secure manner, it said.

“Adding Edgile’s strategic consulting capabilities and launching Wipro CyberTransform are significant milestones in our journey to becoming the trusted partner to security leaders and boardroom stakeholders. I see the team blending very well with Wipro’s  CyberSecurists to deliver transformational cybersecurity on a global scale,” said Tony Buffomante, Senior Vice-President and Global Head of Cybersecurity and Risk Services at Wipro.

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Earlier this year, Wipro had strengthened its cybersecurity business by acquiring Ampion, a leading service provider headquartered in Australia, and the cybersecurity practice at Capco, a leading consultancy in the BFSI sector in Europe and the US.

Abry Partners, a minority private equity investor in Edgile, will fully exit its investment in Edgile as a result of this transaction.

Piper Sandler acted as financial advisor to Edgile and Stone Key Partners LLC acted as financial advisor to Wipro for the transaction. The transaction is expected to be completed before March 31, 2022, subject to regulatory approvals and customary closing conditions.

Foreign research house Morgan Stanley has kept equal-weight rating on the stock with a target at Rs 700 per share. Edgile Services is 31 percent of the Fortune 100 and 20 percent of Fortune 500 companies, the research firm said.

At 9:19am, Wipro was quoting at Rs 677, up Rs 10.65, or 1.60 percent, on the BSE.