Subject to customary regulatory approvals, the acquisition is expected to be completed during the quarter, the Bengaluru-headquartered company said. Financial details of the transaction were not disclosed.
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
Wipro, the $5 billion company with interests in IT services, consumer care, lighting and furniture, is entering a new set of businesses which will enable the company to leverage its growth on the clean energy and agriculture sectors. The company is readying a plan to include alternate energy, water treatment, food and agriculture businesses under its infrastructure business - Wipro Infrastructure Engineering Limited.
Commercial vehicle manufacturer Eicher Motors said on Monday it had tied-up with Wipro Infrastructure Engineering to source hydraulic tipping kits for its new range of tippers.
In a communique on the National Stock Exchange, Wipro said an agreement had been signed for the buyout which was expected to be completed by Q3 of FY 2006-07.\n\n
The new unlisted firm will include Wipro Consumer Care & Lighting (including furniture business), Wipro Infrastructure Engineering (hydraulics and water businesses) and Medical Diagnostic Product & Services business, Wipro said in a filing to the Bombay Stock Exchange.
Wipro, the software to vanaspati maker, has effected key management changes to drive the company in the next phase of growth.
Wipro has taken various initiatives to infuse a green element into its business, by offering solutions that would help the company and its customers optimise energy efficiency and deal with waste
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