Wipro to scale up size of acquisitions

IT major Wipro today said that it would scale up the size of its acquisitions from the current $25-50 million to $50-100 million.

Commenting on the acquisitions being made by IT companies, Mr Azim Premji, Chairman, Wipro, said the firm had acquired six companies in last nine months in a bid to expand its presence in Europe. He, however, said that Indian IT companies still have a long way to go before they can acquire companies beyond $100 million.

Big league

Addressing the India Economic Summit here, Mr Premji said that in the next few years, Indian IT companies such as Infosys, TCS, Wipro would be at par with some of the leading global companies in terms of market capitalisation.

Contd on page 2......