Wipro eyes more acquisitions

Wipro, which made two
acquisitions in December 2005, announced that it was on the look out for more
such acquisitions this year. While announcing the company's Q3 results, Azim H
Premji, Chairman, Wipro Ltd, said that it would target firms that would help the
company expand its footprint in Europe and also increase its domain expertise
and skills.

“We will continue to
do acquisitions since companies doing less than $100 million revenues will be
forced into consolidation. Customers want to deal with larger companies that
provide an integrated offering,” he said.

In the previous quarter, Wipro bought two companies: Austrian design services
company NewLogic and payment processing firm, mPower. The operating results of
mPower were consolidated into Wipro's operating results effective December 1,
2005 resulting in additional revenues of $1.3 million. Azim also said that the
company was seeing a lot of growth from the Japanese market. At present, Japan
accounts for around 4% of the company's revenues. He said that the company was
witnessing growth in the retail and financial services segments. Wipro has a
presence in Japan with 55 people, most of them local.

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