×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Wipro plans to buy tech support provider in Europe

Wipro plans to buy tech support provider in Europe
Comment E-mail Print Share
First Published: Thu, Feb 08 2007. 07 10 AM IST
Updated: Thu, Feb 08 2007. 07 10 AM IST
Wipro, India’s third-largest software services firm, will buy a technology support provider in Europe before the end of March. This is in line with the Bangalore-headquartered company’s strategy to pursue an acquisition-led approach to gain expertise in new technologies and win customers.
Wipro’s chief strategy officer Sudip Nandy said his company is preparing for an acquisition of up to $250 million (about Rs1,100 crore) “within six weeks”.
Wipro is studying five targets in the US and Europe, of which one will be finalized soon for acquisition. These targets manage information technology infrastructure and integrate applications on computer networks in the healthcare, travel and pharmaceutical industries.
Since December 2005, Wipro Technologies has acquired seven companies in the US and Europe, including consulting firm Nervewire, infrastructure management company cMango and Austrian design services firm Newlogic.
The biggest acquisition by Wipro so far has been the $100-million (Rs440 crore) buyout of call centre Spectramind in 2002.
One of these acquisitions, Nervewire, proved painful for Wipro. Julio C. Quinteros, New York vice-president of global investment research at US-based Goldman Sachs, said “almost every Nervewire employee” left the company after the Wipro acquisition.
“The track record with Nervewire has not been very good as there were integration issues (which had) to do more with cultural differences,” he told Mint in Mumbai.
Comment E-mail Print Share
First Published: Thu, Feb 08 2007. 07 10 AM IST
More Topics: Home |