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Wipro plans more acquisitions
Wipro Technologies is close to acquiring a company in the USD 50 million plus range. Speaking at the NASSCOM Leadership Summit in Mumbai, Chief Strategy Officer Sudip Nandy said the company had weighed several acquisition plans, reports CNBC-TV18.
Wipro Technologies is close to acquiring a company in the USD 50 million plus range. Speaking at the NASSCOM Leadership Summit in Mumbai, Chief Strategy Officer Sudip Nandy said the company had weighed several acquisition plans, reports CNBC-TV18.
"At any point of time, we have several active cases. Some are more hot than others. We hope that we will close one transaction but there is no guarantee because the due diligence takes some time. So we are looking at some aquisitions and the ballpark figure is that it has to be more than USD 50 million. The amount of effort pre and post transaction for a USD 5 million and USD 50 million deal is the same, so why not go for the larger one," says Nandy.
"At any point of time, we have several active cases. Some are more hot than others. We hope that we will close one transaction but there is no guarantee because the due diligence takes some time. So we are looking at some aquisitions and the ballpark figure is that it has to be more than USD 50 million. The amount of effort pre and post transaction for a USD 5 million and USD 50 million deal is the same, so why not go for the larger one," says Nandy.
