Wipro Buys Stake in Insights Cyber

Wipro has bought minority stake in Israeli cyber security company Insights Cyber Intelligence for $1.5 million.

The stake is of less than 20 percent on a fully diluted basis, in the Tel Aviv-headquartered firm for a cash consideration of $1.5 million.

The transaction should be completed by August 31, as expected by the company.

Wipro is the third largest software services firm of India.

It has declared acquisitions in the past, of companies like HealthPlan Services ($460 million) and Cellent of Germany (for $77 million).