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Wipro To Acquire Cybersecurity Firm Edgile For $230M
‘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,’ says Tony Buffomante, senior vice president and global head of cybersecurity & risk services at Wipro Limited.
Global IT consulting powerhouse Wipro announced this week that it will pay $230 million to add cybersecurity muscle to its portfolio with the acquisition of Edgile.
Austin, Texas-based cybersecurity consulting provider Edgile focuses on risk and compliance, information and cloud security, and digital identity and partners with such tech giants as Microsoft, ServiceNow and SailPoint.
“Cybersecurity & Risk Services (CRS) is a key driver of Wipro’s growth strategy in the near-term as the cybersecurity industry is poised at a critical and exciting time in its evolution,” Wipro said in an emailed response. “One of the key areas of growth for Wipro’s CRS unit is building strategy and consulting capabilities to increase our relevance with clients looking to transform their cybersecurity system.”
The acquisition of Edgile, which made CRN’s 2021 SP500 list, is expected to close in March 2022. Edgile is a privately held company and will be bringing over all 182 employees as part of the acquisition.
“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, senior vice president and global head of cybersecurity & risk services at Bangalore, India-based Wipro Limited, said in a statement. “I see the team blending very well with Wipro’s CyberSecurists to deliver transformational cybersecurity on a global scale.”
Edgile is focused on its core three service lines which are risk and compliance, identity and cloud security.
“The single largest initiative for enterprises across the planet in 2022 (probably also for the next five years) in making the move to full-fledged zero trust environments,” the company said in an emailed response. “The backbone of any ZT deployment is going to be authentication, followed closely by access management (privilege control). Not only has Edgile done extensive consulting in this area, but it’s also where we are aligned with the top partners for those areas, including Microsoft and SailPoint.”
Wipro and Edgile will develop Wipro CyberTransform, an integrated platform that will help enterprises enhance boardroom governance of cybersecurity risk and invest in robust cyber strategies. In collaboration with partners of Wipro and Edgile, Wipro CyberTransform will enable organizations to grow their digital transformation and operate in virtual, digital supply chains in a highly secure manner.
“We are immensely thrilled to join Wipro, a company we admire for its values and deep technology capabilities,” Edgile CEO Don Elledge said in a statement. “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.”
Earlier this year, Wipro enhanced its cybersecurity business by acquiring Ampion, a leading cybersecurity services firm in Australia, and the cybersecurity practice at Capco, a leading consultancy in the BFSI sector in Europe and the U.S.
As part of the Wipro deal, Boston-based Abry Partners, a minority private equity investor in Edgile, will fully exit its investment in Edgile.