Wipro Limited (NYSE: WIT), a global information technology, consulting and outsourcing company headquartered in Bangalore, India, is acquiring HealthPlan Services from strategic investor Water Street Health Care Partners. The deal is expected to help Wipro become a leader in health care administrative service in the U.S.
Wipro is acquiring Tampa, Florida-based HealthPlan Services’ shares for $460 million. HealthPlan Services offers technology platform services to insurance companies and partnered with Water Street in 2008 to become the leading independent tech provider in the U.S. health care insurance market. Through its Business Process as a Service (BPaaS) model, HealthCare also offers cloud delivery services.