Mpower is based in Princeton, New Jersey, and provides low-cost payment processing software and services to companies such as Mastercard and Fairfax Financial from a development center in Chennai, India. As part of the deal, Wipro will also acquire Mpower’s joint venture with Mastercard called MPACT Technology Services.
Mpower has 300 employees and an annualized profit before interest and tax of $4.6m on revenue of $18m.
Earlier this week, Wipro announced it was buying Austrian semiconductor design company NewLogic Technologies AG for 47m euros ($56m).
