Comments
Wipro has sought shareholder approval to merge four of its entities into the parent company.
In a filing to the stock exchanges, India’s third largest software exporter said that Wipro Technologies Austria, Wipro Information Technology Austria, Newlogic Technologies and Appirio India Cloud Solutions will be merged into Wipro Limited.
Wipro Technologies Austria, Wipro Information Technology Austria and NewLogic Technologies which are part of the NewLogic Technologies group was acquired by Wipro in 2005, are leading semi-conductor design services providers and suppliers of Intellectual Property (IP) cores for wireless and wireline applications.
NewLogic Technologies owns IPs in this segment which contains software, wireless LAN multi-band radio module and mixed-signal blocks, the company said in a statement. Further, Appirio India Cloud Solutions Private Limited is a cloud application services provider which Wipro acquired.
Wipro said that the rationale behind the consolidation had factored in several reasons. The consolidation will provide access to the intangible assets, licenses and intellectual properties, which will lead to synergies of operations, reduction in overheads including administrative, managerial and other expenditure, operational rationalisation, organisational efficiency and optimal utilisation of resources.
Further, the combined entity will have a bigger portfolio of services targeted at a larger customer base, which will strengthen its position.
Also, it said that there will be significant reduction in the multiplicity of legal and regulatory compliances requirements.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.