Wipro announces $1.1B+ outsourcing deal, $195M acquisition


Wipro (NYSE:WIT) has signed Master Services Agreements with Canadian business services firm ATCO to provide a "complete suite of IT [outsourcing] services" to ATCO's Canadian and Australian ops.

As part of the deal, Wipro is buying ATCO's I-Tek IT services unit for C$210M ($195M) in cash.

Wipro expects the deal is expected to be produce revenue of more than C$120M ($112M) annually over the next 10 years, up to Dec. 2024. It comes ahead of the company's July 24 FQ1 report.

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