- News>
- ICE Economy
Wipro actively scouting for acquisitions
Bangalore, July 18: Infotech major Wipro Limited today said it was actively looking at acquisitions in IT services, Business Process Outsourcing and consumer care and lighting space to add value.
Bangalore, July 18: Infotech major Wipro Limited today said it was actively looking at acquisitions in IT services, Business Process Outsourcing and consumer care and lighting space to add value.
"We are constantly in search," said Vivek Paul, the company's Vice-Chairman and President of Wipro Technologies, the New York Stock Exchange-listed firm's global software services provider.
Paul said the company had demonstrated its appetite for acquisitions and its ability to integrate and manage post-acquisitions. The company is looking for good deals, he told reporters here.
Raman Roy, Chairman and Managing Director of Wipro Spectramind, its BPO business wing, said "We continue to look at opportunities in India and abroad. But it has to be a win-win situation and has to add value."
According to Vineet Agrawal, President of Wipro Consumer Care and Lighting, the company is continuing to look at brands as acquisition targets. Meanwhile, software major Wipro reported a 43 per cent rise in its net profit for the first quarter of 2003-2004 at Rs 206 crore over the same quarter of the previous financial year.
Announcing results for the first quarter ending June 30, 2003, the company said its revenue grew by 29 per cent at Rs 1,198.9 crore year-on-year.
Global IT services and products revenue increased by 46 per cent year on year at Rs 925.50 crore, it said.
Bureau Report
Paul said the company had demonstrated its appetite for acquisitions and its ability to integrate and manage post-acquisitions. The company is looking for good deals, he told reporters here.
Raman Roy, Chairman and Managing Director of Wipro Spectramind, its BPO business wing, said "We continue to look at opportunities in India and abroad. But it has to be a win-win situation and has to add value."
According to Vineet Agrawal, President of Wipro Consumer Care and Lighting, the company is continuing to look at brands as acquisition targets. Meanwhile, software major Wipro reported a 43 per cent rise in its net profit for the first quarter of 2003-2004 at Rs 206 crore over the same quarter of the previous financial year.
Announcing results for the first quarter ending June 30, 2003, the company said its revenue grew by 29 per cent at Rs 1,198.9 crore year-on-year.
Global IT services and products revenue increased by 46 per cent year on year at Rs 925.50 crore, it said.
Bureau Report