Wipro to take over Viteos Group
Viteos group, head quartered in Somerset, New Jersey was eastablished in 2003.
The company renders customized straight-through-processing and integrates post-trade operations across every asset class, currency, border or structure for the alternative investment management business in the United States, Europe and Asia.
The group will contain its individuality to leverage its brand in the Buy-Side and expand its offerings into the larger asset management business with the backing of Wipro’s size and presence.
The management team group will continue with the business and drive the platform based outsourcing business services.
“Our plan of action is to invest in industry vertical platforms which will provide platform-based services to our clients in transaction/outcome-based pricing models. Viteos will further our strategy in the Capital markets domain,” said Shaji Farooq, President & Chief Executive, Finance Solutions, Wipro Limited.
The acquisition is likely to be completed in March 2016..