Wipro has signed a definitive agreement to acquire Opus CMC, an US-based providers of mortgage due diligence and risk management services, for $75 million.
The acquisition will strengthen its mortgage solutions and outsourcing business and complement its existing offerings in mortgage origination, servicing and secondary market, says the company.
Founded in 2005 and headquartered in Lincolnshire, Illinois, Opus CMC provides comprehensive risk management solutions to the mortgage industry in the United States. It has over 490 employees, including over 315 loan underwriters, spread across five centers in the US.
The acquisition is subject to customary closing conditions and regulatory approvals, and expected to be completed in Q4, FY-2014.
[Image courtesy: Opus CMC]