Wipro eyes firms with new biz models for buyouts

Last Updated: Wednesday, September 9, 2009 - 13:50

Bangalore: Wipro is scouting for acquisitions
of technology companies which have new business models and is
evaluating a few candidates for large buyouts, a key company
official said.

"We continue to be active in acquisitions," the
Bangalore-based company`s Chief Financial Officer Suresh
Senapaty said here.

"We are looking at acquisitions which can fill in some of
the gaps that we have in our practices, our verticals and
our geographies and/or in terms of technologies which are
going to be technologies of Horizon 2 and Horizon 3 which
means which will be some of value to us... new models of
business after two-five years," he said.

Senapaty indicated that Wipro`s acquisitions, whenever
they are made, would be large, saying the company generally
avoided very small companies because "the impact is not going
to be felt."

"We don`t have (acquisition) size restrictions. But it
has to fit from a strategic point of view, it has to fit from
cultural and financial strategy point of view," he added.

Senapaty said Wipro was currently evaluating a few
"candidates" for acquisitions. "We are continuously looking at
it," he said, adding that the company`s M & A (mergers and
acquisitions) team was continuously scouting for target
companies from a strategic point of view.

Bureau Report




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