Wipro eyeing acquisitions, govt projects for growth

Last Updated: Friday, October 2, 2009 - 16:17

New Delhi: Against the backdrop of a spate of
recent acquisitions by international technology companies like
Dell and Xerox, Indian IT major Wipro on Friday said it is looking
at acquisitions to fuel growth.

"We are selectively looking at acquisitions...it will be
a string of smaller ones," Wipro Chairman Azim Premji told
reporters on the sidelines of a conference here.

He, however, declined to divulge further details saying,
"It is premature to talk of them."

Premji said Wipro is focusing on the domestic sector,
which accounts for just about 5 percent of its Rs 6,274 crore
revenues for the quarter ended June 30, 2009. About a quarter
of domestic sales comes from government projects.

"We are very active in the (government) space and chasing
many deals... About 20-25 percent of our Indian revenues come
from the government sector," Premji said.

On the signs of recovery in the IT market, which was hit
by the global economic meltdown, Premji said, "I think there
is stabilisation in the market."

Bureau Report

First Published: Friday, October 2, 2009 - 16:17

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