Indian software major Wipro is set to acquire Opus Capital Markets Consultants (Opus CMC), a provider of mortgage due diligence and risk management services, for $75 million.
The strategic acquisition of the US-based company will strengthen Wipro’s mortgage solutions and outsourcing business and complement its existing offerings in mortgage origination, servicing and secondary market, said Wipro in a statement.
Founded in 2005, Opus CMC provides comprehensive risk management solutions to the mortgage industry — several top global banks, mortgage conduits, mortgage investors, and independent mortgage originators — in the United States. It has more than 490 employees, including over 315 loan underwriters, spread across 5 centers in the US.
Manoj Punja, senior vice president and head – BPO, Wipro, said the acquisition will help the Indian software exporter to expand in the high end Mortgage BPO segment, and brings differentiated capability with a platform-based risk management offering.