Wipro gears up for bigger acquisitions
The company now has a robust process in terms of deal closing and for integration.
By PTI |
BANGALORE: After a string of small acquisitions in recent quarters, information technology major Wipro is now ready for bigger takeovers - in the range of USD 100-300 million - and is studying several opportunities, a top company executive said today.
The Bangalore-based firm's Chief Strategy Officer Sudip Nandy said the company now has a robust process in terms of deal closing and for integration of an acquired company.
"That has given us more confidence that we can probably take big companies and integrate them effectively and realise synergy", he told PTI here.
"So, we are looking at larger size which we were purposely eliminating earlier. But now we are looking at them (big ones) also. We have several big ones in our focus (for aquisitions)".
It's past acquisitions were typically in the range of USD 20-55 million, which is much less than the USD 100-300 million range the company is looking at now.
He said the acquisitions should make a strategic, cultural and financial fit. "If there is one (company) that makes the cut for these three (strategic, cultural and financial), we will do one (acquisition). If five make the cut, then we will do five (acquisitions). We have no number target in mind".
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