Wipro buys Oki arm for $2-3 million

Wipro buys Oki arm for $2-3 million
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First Published: Fri, Sep 28 2007. 12 31 PM IST
Updated: Fri, Sep 28 2007. 12 31 PM IST
PTI
Bangalore: Bangalore-based Wipro Ltd announced on 28 September it has inked a definitive agreement to acquire Oki Techno Centre Singapore Pte Ltd (OTCS), a wholly-owned subsidiary of OKI Electric Industry Co Ltd.
“Wipro has signed a definitive agreement to acquire Oki Techno Centre Singapore Pte Ltd, including its intellectual Property Rights in an all cash deal over a period of one year,” a company statement said.
Although the company did not mention the financial details of the deal, sources said it has acquired OTCS for $2-3 million.
OTCS is a 40-member centre, with customers in Japan in the product engineering space.
“Wipro sees this acquisition as a strategic fitment in building niche competencies which would enhance our presence among our technology companies in Japan,” company’s Chief Strategy Officer Sudip Nandy said.
As part of the acquisition, it would establish a dedicated Development Centre for Oki that would enable the latter to utilize design resource efficiently and enhance product development capabilities, the statement said.
“We have been looking for a global partner to improve our efficiency in semiconductor design through outsourcing , as we focus on improving our core designing capabilities,” president of Silicon Solutions Company at Oki Electric Industry, Masahiko Morioka, said in the statement.
OTCS primarily focuses on wireless design and has expertise in radio frequency and baseband design.
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First Published: Fri, Sep 28 2007. 12 31 PM IST
More Topics: Wipro | Oki | acquisition | intellectual property | IPR |