Wilco International, a wholly owned subsidiary of Automatic Data Processing Inc, is planning to acquire portions of the software development operations of DE Shaw India Software Private Ltd (DESIS). The deal affects both human and software assets of DESIS, which is a securities and investment firm based in Hyderabad, India, and a wholly-owned subsidiary of E Shaw and Co, a global securities and investment firm. Wilco and DESIS said they’re still in negotiations and would not reveal financial details, but confirmed that preliminary agreements have been reached.
Wilco, which develops financial services transaction processing systems and handles enterprise application integration, said the acquired assets will be formed into a new business unit called Wilco International Systems Private Ltd and remain in Hyderabad. The unit will work on developing Wilco’s transaction processing systems, such as its Gloss trading and settlement system and its Wilco Enterprise Broker.
