Wipro in constant discussion with firms for acquisition, deals

Last Updated: Monday, April 1, 2013 - 20:54

New Delhi: IT Major Wipro Monday said it is in discussions with some companies for acquisitions and deals and will announce such developments as and when they happen.

Clarifying to BSE on reports of Polaris approaching the Bangalore-based firm to sell its services unit, Wipro said "... As part of the company's strategy the company is constantly in discussion and consultations with various parties for acquisitions, deals etc".

Wipro added that "as and when any of those discussions fructify the company will be making suitable announcements to stock exchanges".

According to reports, Chennai-based Polaris Financial Technology is interested in selling its services business and has approached L&T and Wipro.

Reacting to the report, an L&T spokesperson said they do not comment on market speculation.

Wipro shares today fell by 1.22 percent to settle at Rs 431.80 apiece from its previous close at the BSE.

PTI

First Published: Monday, April 1, 2013 - 20:54

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