Wipro Infrastructure Engineering (WIN) and the Charritton Family, founders and current shareholders of French aerospace manufacturer Lauak Group, have entered into exclusive negotiation for a majority stake acquisition in the company. This move was announced on Wednesday at the Paris Air Show.
According to the company, the transaction is expected to close in the coming months, subject to customary closing conditions, and will reinforce Wipro’s commitment to expanding its footprint in the European aerospace sector and enhancing its global capabilities to support key industry players.
Aaerospace solutions
Pratik Kumar, CEO, Wipro Infrastructure Engineering, and MD, Wipro Enterprises, said, “This planned acquisition represents a significant moment in the continued growth of Wipro Aerospace. Lauak’s rich legacy in Aerospace and specialised expertise align with our long-term vision of building a fully-integrated, global aerospace solutions platform. Together, we would be positioned to deliver greater value, agility and innovation to our customers worldwide.”
The terms of the transaction would include the establishment of a board of directors comprising representatives from both sides. To ensure the long-term continuity of operations and ongoing projects, Mikel Charritton would remain CEO of the company. The Lauak and Wipro names would be combined to form WIPRO LAUAK.
Mikel Charritton, CEO, Lauak Group, said, “Planning to join forces with Wipro would offer an exciting opportunity to innovate and internationalise. Together, we would strengthen our position in the aerospace industry and continue delivering high-quality solutions to our customers worldwide.”