Wipro Completes Acquisition Of Brazilian Firm; Stock Gains Nearly 2%

Wipro shares gained nearly 2 per cent in early trading after the IT major announced, on Saturday, that it had completed the acquisition of Brazilian IT firm IVIA Servios de lnformitica Ltda. At 10:15 am, the shares of Wipro were trading at Rs 281.75, higher by 0.9 per cent, on the BSE. The shares had opened at Rs 276.70 and touched an intra-day high of Rs 282.35 and a low of Rs 276.70 during the day.

"...In continuation to the aforesaid letter (dated July 14, 2020), this is to inform that the said acquisition has been completed on August 14, 2020," Wipro said in a regulatory filing on Saturday.

Wipro had announced in July that it had signed an agreement to acquire IVIA for $22.4 million (about Rs 169 crore).

IVIA provides IT solutions such as system development, consulting and project management services, to clients in Brazil.

The BSE Sensex was trading at 37,952.53, higher by 76 points or 0.20 per cent and NSE Nifty was at 11,222.30, up 43 points or 0.37 per cent at the time.