IT major Wipro Limited ... secured a strategic seven-year deal valued at $300 million from ICICI Bank to provide a suite of digital services... Currently, Vara lnfotech provides these services to ICICI Bank. As part of this strategic engagement, Wipro will absorb about 3,800 employees of Vara lnfotech along with its existing contracts, facilities and assets, through a business transfer agreement for an all cash consideration of ₹321 crore and will provide these services to ICICI Bank from September 2019.
— Mint
P&A Law Offices advised
IndusLaw acted for
2019-09-04
Deal value: Rs 321 crore
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