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Wipro has bought minority stake in Israeli cyber security company, Intsights cyber Intelligence for $ 1.5 million.
“The target entity (Intsights) is an early-stage company founded in 2015... Intsights offers a threat intelligence driven security platform employing cyberintelligence, rapid mitigation and one-click remediation,” Wipro said in a BSE filing.
Wipro has acquired a “minority stake of less than 20 per cent on a fully diluted basis” in the Tel Aviv-headquartered firm for a cash consideration of $1.5 million, it added.
The Bengaluru-based company expects the transaction to be completed by August 31, 2016.
In the past few quarters, Wipro has announced a string of investments, including acquisition of companies like HealthPlan Services ($ 460 million), Cellent of Germany (for $77 million) and US-based Viteos Group for $ 130 million.
However, it later called off the buyout of US-based Viteos Group, citing inordinate delays in completion of closing conditions.
Wipro’s net profit for the June quarter had declined 6.7 per cent to ₹ 2,059 crore, while its total income from operations rose 10.7 per cent to ₹ 13,697.6 crore from the year-ago period.
Shares of Wipro closed 0.75 per cent down at ₹ 524.80 apiece on BSE.
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