AKIPRESS.COM - Wipro on Thursday said it will acquire HealthPlan Services for $460 million, a move that will help India’s third-largest software services firm strengthen its position in the US health insurance market, reports rediff.com.

Wipro to acquire HealthPlan Services from Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, the Indian software major said in a statement.

As part of the agreement, Wipro will acquire 100 per cent of HealthPlan Services' shares for a purchase consideration of $460 million, it added.

Headquartered in Florida, US, HealthPlan is a leading independent technology and Business Process as a Service (BPaaS) provider in the US health insurance market.

HealthPlan Services employs over 2,000 associates. It offers technology platforms to health insurance companies (payers) in the individual, group and ancillary markets.