Mumbai: Six companies in six months, that's how many firms Wipro has acquired and it's not through with its shopping yet. It sees possibilities in Europe, Japan and even North America, reports CNBC-TV18.
Wipro has been on a shopping spree and in the past 6 months has spent $200 million. It hasn't finished shopping yet.
It has about $900 million in its purse for more acquisitions this financial year. Wipro says that the deals will help the company to stay ahead of the industry's growth curve and it will look for bigger deals too.
"A large portion of our acquisitions strategy is 'string of pearls', which are probably in the $40-$75 million revenue rate. But, we are not averse to big deals as we have done acquisitions and we have good experience in integrating them," Chief Strategy Officer at Wipro Technologies Sudip Nandy said.
"We are gaining confidence and in due course we will do $100-$200 million acquisitions also," he added.
Wipro wants to buy companies that are strong in select industries such as healthcare, transaction BPO, retail, telecom and infrastructure management services.
"Today we have cash in the balance sheet. So we will do mostly cash transactions. If required we will do cash and equity transactions," Nandy added.
All that shopping is expected to help Wipro become the global company it aims to be. It will also boost its bottom line but time will tell how well it will work for the group.
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