Wipro eyes firms with new biz models for buyouts

Wipro eyes firms with new biz models for buyouts 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