Kavveri Tech acquires WPCS' wireless division

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Telecom equipment maker Kavveri Telecom today said its US-based subsidiary has completed acquisition of the wireless division of NASDAQ-listed WPCS International.
    
"Kavveri Technologies Americas, a wholly-owned subsidiary of Kavveri Telecom Products today announced completion of purchase of wireless division of WPCS International," the company said in a filing to the BSE.
    
Kavveri Telecom, however, did not reveal financial details of the deal.
    
It said the acquisition will add USD 30 million to the Kavveri group's topline in the first year and will also broaden Kavveri's wireless systems solutions capabilities for inbuidling telecom solutions, Wi-Fi, wireless broadband.
    
Shares of Kavveri Telecom Products were trading at Rs 225.55, down by 1.48% at the National Stock Exchange.