Wipro Technologies has signed a definitive agreement to acquire an Austrian firm, NewLogic, in an all-cash deal worth $56 million.
According to a release on the website of NewLogic, the consideration includes cash payment on closure of the transaction as well as earn outs on achieving targeted financial conditions over a three-year period.
NewLogic's estimated revenue in 2005 is euro 45 million. "NewLogic is a semiconductor design services company with intellectual property cores for complex wireless applications like Wireless LAN and Bluetooth.
Wipro gains 120 specialists through the acquisition - strengthening its ability to provide proven semiconductor IP cores and complete system-on-chip solutions with digital, analog mixed signal and RF design services.
The acquisition also provides Wipro with access to 25 patent filings and over 20 customers in the product engineering domain. The customers include Agere, Infineon and Philips," the release said.
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