Wipro, a leading global Information Technology, Consulting and Outsourcing company on Monday announced that it signed a definitive agreement to acquire Opus CMC (Opus Capital Markets Consultants LLC) for USD 75 million that includes a deferred earn-out component.

Opus CMC is one of the leading US-based providers of mortgage due diligence and risk management services.

The acquisition will strengthen Wipro’s mortgage solutions and outsourcing business and complement its existing offerings in mortgage origination, servicing and secondary market.
 
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 5 centers in the US.

Manoj Punja, Senior Vice President and Head - BPO, Wipro Limited said, “This acquisition will help us expand in the high end Mortgage BPO segment, and brings differentiated capability with a platform-based risk management offering.”

“Wipro and Opus CMC will jointly assist our clients in navigating this challenging and changing business environment and help build reliable outcomes in mortgage origination and secondary market operations,” said Joseph Andrea and Jennifer LaBud, Co-founders and Principals, Opus CMC.

The acquisition is subject to customary closing conditions and regulatory approvals and will be completed in Q4, FY-2014.