Wipro to buyout Motorola's stake in JV
Wipro Technologies, the global IT arm of Wipro today said it has pulled out of its joint venture with US-based telecom major Motorola Inc.
By PTI |
NEW DELHI: Wipro Technologies, the global IT arm of Wipro today said it has pulled out of its joint venture with US-based telecom major Motorola Inc.
Wipro and Motorola had formed the joint venture -- WMNetServ in 2006 with Wipro holding the majority stake.
"We have altered the equity arrangement in the partnership by buying out Motorola stake," a Wipro spokesperson told PTI adding that it and Motorola would continue to work closely in the engineering space.
A Motorola official said the financial recast of the JV was a mutually agreed decision. The company takes such steps depending on the business dynamics.
WMNetServ has its main delivery centers in Bangalore and Gurgaon in India. It leverages Wipro's offices in USA, Canada, Europe, Middle East, Latin America (Brazil, Mexico), Japan, China, Australia and APAC to help deliver services to equipment vendors and wireless operators on a global basis.
WMNetServ focuses on delivering network engineering services to equipment vendors and wireless operators on a global basis. It has a framework for remote delivery of network services like network planning and design, network optimisation and others.
Wipro and Motorola had formed the joint venture -- WMNetServ in 2006 with Wipro holding the majority stake.
"We have altered the equity arrangement in the partnership by buying out Motorola stake," a Wipro spokesperson told PTI adding that it and Motorola would continue to work closely in the engineering space.
A Motorola official said the financial recast of the JV was a mutually agreed decision. The company takes such steps depending on the business dynamics.
WMNetServ has its main delivery centers in Bangalore and Gurgaon in India. It leverages Wipro's offices in USA, Canada, Europe, Middle East, Latin America (Brazil, Mexico), Japan, China, Australia and APAC to help deliver services to equipment vendors and wireless operators on a global basis.
WMNetServ focuses on delivering network engineering services to equipment vendors and wireless operators on a global basis. It has a framework for remote delivery of network services like network planning and design, network optimisation and others.
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