Hughes Hubbard Helps Wipro Acquire Mortgage Services Firm


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Hughes Hubbard & Reed assisted Wipro, a leading global information technology, consulting and outsourcing company, in its acquisition of American mortgage services company Opus Capital Market Consultants for $75 million.
 
The deal was announced on Dec. 2, 2013 and is expected to close in the fourth quarter.
 
It is the latest in a string of acquisitions and partnerships that Hughes Hubbard has facilitated for Wipro intended to strengthen the company's financial services muscle.
 
"This acquisition will help us expand in the high-end mortgage Broker Price Opinion segment and bring differentiated capability with a platform-based risk management offering," said Manoj Punja, a senior vice president for Wipro.
 
Founded in 2005 and based in Lincolnshire, Illinois, Opus is a mortgage due diligence and risk management services firm with nearly 500 employees, including over 315 loan underwriters spread across five centers in the US.
 
Wipro, headquartered in Bangalore, has more than 140,000 employees and clients across 61 countries.
 
Ken Lefkowitz and Chuck Samuelson worked on this deal.