Wipro to acquire US-based mortgage consulting firm Opus CMC
Bangalore-based software exporter Wipro on Monday confirmed that its had signed a definite agreement to acquire US-based mortgage consulting firm Opus Capital Markets Consultants LLC for $75 million (nearly Rs 466.5cr).
The acquisition Opus Capital will provide strength to Wipro's mortgage solutions and outsourcing business as well as help it improve its existing offerings in mortgage market.
Manoj Punja, Senior Vice President and Head of BPO at Wipro, said, "This acquisition will help us expand in the high end Mortgage BPO segment, and brings differentiated capability with a platform-based risk management offering."
Punja added that they would like to leverage Wipro's offerings with Opus CMC's knowledge and capabilities to provide all mortgage players with an end-to-end offering.
Since its foundation in 2005, Opus CMC has been offering comprehensive risk management solutions to the mortgage industry in the U. S. The Lincolnshire, Illinois-headquartered company has a workforce of more than 490 people, who will now join the Wipro family.
Wipro shares gained 2.24 per cent to close at Rs 481.50 apiece on the Bombay Stock Exchange on Monday.