The Channel logo


By | Kelly Fiveash 7th August 2007 12:14

Wipro jumps on Infocrossing

Indian firm looks to buy Nasdaq-listed outsourcing outfit

Wipro Technologies, the global IT services arm of Indian outsourcing firm Wipro Ltd, said it has signed a $413.27m all-cash deal to acquire Infocrossing Ltd.

The firm has offered $18.70 per share for Infocrossing which is a Nasdaq-listed, New Jersey-based IT infrastructure specialist that provides outsourcing services to SMBs in the US.

The deal, which is expected to close in December this year subject to regulatory approval, will be the biggest of its kind made by an Indian services firm.

Wipro reported healthy profits in the first half of 2007 with net income up 16 per cent to 7.1bn rupees ($175m) as demand for outsourcing in India rose.

It said the acquisition would help Wipro extend its IT outsourcing reach, enhancing its portfolio and making it a more attractive business proposition for US and European firms looking for low-cost, off-shore alternatives.

Infocrossing has some 900 staff and runs five data centres in the US. ®

alert Send corrections


Frank Jennings

What do you do? Use manual typwriters or live in a Scottish croft? Our man advises
A rusty petrol pump at an abandoned gas station. Pic by Silvia B. Jakiello via shutterstock

Trevor Pott

Among other things, Active Directory needs an overhaul
Baby looks taken aback/shocked/affronted. Photo by Shutterstock

Kat Hall

Plans for 2 million FTTP connections in next four years 'not enough'
Microsoft CEO Satya Nadella


League of gentlemen poster - Tubbs and Edward at the local shop. Copyright BBC
One reselling man tells his tale of woe