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Wipro secured a $300-million (Rs 2,156 crore) seven-year deal from leading private sector bank ICICI Bank through Vara Infotech for providing a suite of services.
Vara infotech, a global software solution, and services company providing a comprehensive suite of services catering to the Banking, Financial Services, and Insurance (BFSI) segment, executed a definitive business transfer agreement, for an all cash consideration, to sell its business undertaking to Wipro Limited.
The transaction includes a strategic engagement with ICICI valued at USD 300 million.
P&A Law Offices advised Vara Infotech and was led by its corporate partner Ketan Mukhija and principal associate Gaurav Priyadarshi.
IndusLaw (Bangalore team) advised Wipro Limited on the transaction and the team was led by senior partner Suneeth Katarki and partner Pallavi Kanakagiri along with Associates Rahul Tiwari and Nabarun Chandra Ray.