Wipro acquires Japanese wireless design unit
Wipro acquires Japanese wireless design unit Wipro Technologies, the global IT services arm of Wipro, (Q, N,C,F)* acquired the wireless design subsidiary of Tokyo-based Oki Electric Industry Co to help it spread its tentacles in Japan and east Asia, reports Business Standard.
Wipro, the country`s third-biggest software exporter, will also set up a dedicated development centre for Oki, with which it had signed a strategic partnership agreement in the area of design services for the semiconductor market.
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As part of this partnership, Wipro signed a definitive agreement to acquire Oki Techno Centre Singapore Pte (OTCS), including its own intellectual property rights, in an all-cash deal ove r a period of one year.
The company did not disclose the cost of the acquisition.
This is Wipro`s third acquisition this fiscal after it bought Unza and Infocrossing. The company has cash reserves of about USD 150 million (about Rs 6 billion).
Oki Techno Centre Singapore (OTCS), the wholly-owned subsidiary of Oki Electric, has capabilities in radio frequency and baseband design.
Shares of the company declined Rs 0.5, or 0.11%, to close at Rs 459.85. The total volume of shares traded was 252,100 at the BSE. (Friday)
