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Our Bureau

Bangalore, Sept. 28 Wipro Technologies is acquiring the OkI Techno Centre Singapore Pte Ltd (OTCS), a wholly-owned outfit of OKI Electric Industry Co Ltd, and its intellectual property rights in an all cash deal over a period of one year.

OTCS is focused on wireless design and has capabilities in the radio frequency and baseband design. With 40 employees and revenues of SG$8.8 million for year-ended March 2007, OTCS has key customers in Japan in the product engineering space.

While Wipro did not disclose the deal size, market sources estimate it to be around $3 million. The deal is expected to close in the next one month. Following the acquisition, Wipro shares edged up on the BSE to touch an intraday high of Rs 469 before closing flat at Rs 460.75.

“Wipro sees this acquisition as a strategic fitment in building niche competencies which would enhance our presence among our technology companies in Japan,” said Mr Sudip Nandy, Chief Strategy Officer.

As part of the deal, Wipro would establish a dedicated development centre for OkI which would enable the latter to utilise design resources efficiently and enhance product development capabilities, said Wipro in a press release. “We have been looking for a global partner for semiconductor design through outsourcing, as we focus on improving our core designing capabilities,” the President of Silicon Solutions Company at OkI Electric Industry, Mr Masahiko Morioka, said.

More Stories on : Software | Mergers & Acquisitions | Wipro Ltd

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