Wipro Tech acquires Finland-based Saraware
Wipro Technologies, the global IT services arm of Wipro Ltd., has acquired Finland-based wireless design services company Saraware Oy for Euro 25 million (Rs 145 crore) in cash.
By PTI |
Bangalore, June 8 (PTI) Wipro Technologies, the global IT services arm of Wipro Ltd., has acquired Finland-based wireless design services company Saraware Oy for Euro 25 million (Rs 145 crore) in cash.
The consideration of Euro 25 million includes upfront cash payment and debt take over, Wipro said.
In addition, there are earn-outs on achieving the targeted financial conditions over an 18-month period, it said.
Saraware, Wipro said, is a 21-year-old company and is a leading provider of design and engineering services for telecom companies.
The acquisition adds the expert domain competencies in the areas of radio networks and secure mobile platform, the company said.
Saraware has nearly 200 specialists in these domains based out of Finland.
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