The world's top cellphone maker Nokia has sold its enterprise mobile TV unit to India's Wipro, a spokesman for Nokia said on Monday.
The Mobile Broadcast Solutions unit had about 40 employees and created software and hardware which enabled the mobile TV technology on the phone to find and access the broadcasting network.
"We wanted to focus on the consumer side of things, the mobile TV client in the devices, rather than on the business-to-business side," said the spokesman.
Mobile television broadcasting, the hottest upcoming feature for cellphones only a few years ago, has found little demand anywhere in the world.
Showing posts with label Wipro. Show all posts
Showing posts with label Wipro. Show all posts
Tuesday, April 21, 2009
Saturday, September 29, 2007
Wipro buys singapore design company
Wipro Technologies will acquire Oki Techno Centre Singapore (OTCS), a wholly-owned subsidiary of Oki Electric Industry, Japan, over a period of one year and this would be its second acquisition in the semiconductor space with the earlier one being NewLogic.
OTCS registered revenues of 8.8 million Singapore dollars for the fiscal year ended March 31, 2007 and has a 40-member team. Vasudevan Aghoramoorthy, V-P, Wipro Technologies said, this acquisition will enable them to meet the demand for newer wireless technologies and also expand its breadth of offering in the semiconductor design space.
For the first time, Wipro Technologies has made an acquisition in the Far East region with all its previous buyouts in the US and Europe.
OTCS is focussed on wireless design and has capabilities in radio frequency (RF) technologies. It mainly works for the parent company with some third party clients and Wipro expects to provide solutions for the semiconductor companies.
(Source: Economic Times)
OTCS registered revenues of 8.8 million Singapore dollars for the fiscal year ended March 31, 2007 and has a 40-member team. Vasudevan Aghoramoorthy, V-P, Wipro Technologies said, this acquisition will enable them to meet the demand for newer wireless technologies and also expand its breadth of offering in the semiconductor design space.
For the first time, Wipro Technologies has made an acquisition in the Far East region with all its previous buyouts in the US and Europe.
OTCS is focussed on wireless design and has capabilities in radio frequency (RF) technologies. It mainly works for the parent company with some third party clients and Wipro expects to provide solutions for the semiconductor companies.
(Source: Economic Times)
Monday, September 3, 2007
Infy, Wipro chase same target for the first time
India’s tech posterboys and cross-town rivals Infosys Technologies and Wipro have shown interest in buying out the US-based high-end analytics company MarketRx. The indicative valuation of MarketRx is seen between $150 million and $160 million (Rs 615-650 crore), sources said.
This is probably the first time the Bangalore-headquartered Infosys and Wipro are seen chasing the same company for a possible acquisition. MatrixRx’s $160-million valuation is five times its revenue, the sources added. It is believed that the promoter expectation is “slightly north of this valuation”.
It is learnt that four-five suitors have expressed interest in MarketRx after the company mandated William Blair & Company in the US and Avendus in India to explore options, which could lead to a possible sellout. “The promoters are exploring various options regarding the future and will take an appropriate decision. The process is on,” said a source familiar with the developments.
For software services biggies like Wipro and Infosys, the acquisition will give a headstart in the analytics segment of the knowledge process outsourcing (KPO) segment, as it takes considerable time to build one’s practice organically in this business.
Industry observers said analytics services bring in higher revenue per employee compared to conventional IT services. The rates of analytics services range between $30 and $60 per hour while some high-skilled statistical modeling processes attract up to $150 per hour.
Wipro has been focusing on inorganic growth, with its now famous string of pearls strategy. Infosys, on the other hand, is getting aggressive on the M&A front. A target like MarketRx provides the BPO arms of both Wipro and Infosys a platform to get into transformational business deals.
Unconfirmed reports suggested that BPO major WNS could be also in the fray, but Gurgaon-based company is unlikely to join the race. Early this year, WNS acquired another analytics firm Marketics for $65 million, valuing it almost 10 times its annual revenue.
MarketRx was started in 2000. It has over 350 employees spread across the US, Europe and India. Its list of investors includes the US-based venture fund Sequoia Capital. The India operations were started with the Gurgoan centre in 2003 and support the US teams on collaborative projects besides servicing European and Asia-Pacific clients. MarketRx has more than 75 small and big pharma, biotechnology and medical devices companies as its clients.
Third-party analytics is growing steadily in India with more players entering the space, but currently it being dominated by captive units of MNCs, especially the financial powerhouses.
(Source: Economic Times)
This is probably the first time the Bangalore-headquartered Infosys and Wipro are seen chasing the same company for a possible acquisition. MatrixRx’s $160-million valuation is five times its revenue, the sources added. It is believed that the promoter expectation is “slightly north of this valuation”.
It is learnt that four-five suitors have expressed interest in MarketRx after the company mandated William Blair & Company in the US and Avendus in India to explore options, which could lead to a possible sellout. “The promoters are exploring various options regarding the future and will take an appropriate decision. The process is on,” said a source familiar with the developments.
For software services biggies like Wipro and Infosys, the acquisition will give a headstart in the analytics segment of the knowledge process outsourcing (KPO) segment, as it takes considerable time to build one’s practice organically in this business.
Industry observers said analytics services bring in higher revenue per employee compared to conventional IT services. The rates of analytics services range between $30 and $60 per hour while some high-skilled statistical modeling processes attract up to $150 per hour.
Wipro has been focusing on inorganic growth, with its now famous string of pearls strategy. Infosys, on the other hand, is getting aggressive on the M&A front. A target like MarketRx provides the BPO arms of both Wipro and Infosys a platform to get into transformational business deals.
Unconfirmed reports suggested that BPO major WNS could be also in the fray, but Gurgaon-based company is unlikely to join the race. Early this year, WNS acquired another analytics firm Marketics for $65 million, valuing it almost 10 times its annual revenue.
MarketRx was started in 2000. It has over 350 employees spread across the US, Europe and India. Its list of investors includes the US-based venture fund Sequoia Capital. The India operations were started with the Gurgoan centre in 2003 and support the US teams on collaborative projects besides servicing European and Asia-Pacific clients. MarketRx has more than 75 small and big pharma, biotechnology and medical devices companies as its clients.
Third-party analytics is growing steadily in India with more players entering the space, but currently it being dominated by captive units of MNCs, especially the financial powerhouses.
(Source: Economic Times)
Tuesday, August 7, 2007
Wipro to buy Infocrossing for $600m
IT major Wipro Ltd said on Monday it is buying Nasdaq-listed Infocrossing Inc in a deal that values the acquisition target at about $600 million.
Wipro has offered to pay $18.70 per share of the New Jersey-based company that provides select outsourcing services to mid-sized companies in the United States, said Wipro's Chief Financial Officer Suresh Senapaty.
The acquisition, the biggest-ever by an Indian services company, will help Wipro enhance its offerings to customers, especially those involving off-shoring of technology infrastructure services by Western companies to low-cost destinations like India, he said.
``We have been pursuing organic growth, and at the same time looking for inorganic opportunity,'' Senapaty said. ``Infocrossing is a perfect fit (for Wipro).''
The board of Infocrossing has approved and recommended the deal to its shareholders. The offer from Wipro represents a 6 per cent premium over the last closing price of Infocrossing shares, he said. Wipro plans to make an open offer to buy all outstanding shares of the company.
The transaction, which is subject to regulatory approvals, is expected to be completed by December, Wipro said, adding that the takeover will be funded from its own cash reserves.
Infocrossing operates five data centers and employs about 900 people. Its sales totaled US$229 million last year, leaving the company with a net profit of $8.4 million, an Wipro statement said.
(Source: Economic Times)
Wipro has offered to pay $18.70 per share of the New Jersey-based company that provides select outsourcing services to mid-sized companies in the United States, said Wipro's Chief Financial Officer Suresh Senapaty.
The acquisition, the biggest-ever by an Indian services company, will help Wipro enhance its offerings to customers, especially those involving off-shoring of technology infrastructure services by Western companies to low-cost destinations like India, he said.
``We have been pursuing organic growth, and at the same time looking for inorganic opportunity,'' Senapaty said. ``Infocrossing is a perfect fit (for Wipro).''
The board of Infocrossing has approved and recommended the deal to its shareholders. The offer from Wipro represents a 6 per cent premium over the last closing price of Infocrossing shares, he said. Wipro plans to make an open offer to buy all outstanding shares of the company.
The transaction, which is subject to regulatory approvals, is expected to be completed by December, Wipro said, adding that the takeover will be funded from its own cash reserves.
Infocrossing operates five data centers and employs about 900 people. Its sales totaled US$229 million last year, leaving the company with a net profit of $8.4 million, an Wipro statement said.
(Source: Economic Times)
Friday, July 6, 2007
Wipro buys Singapore's Unza for $246 mn
India's third-largest software services exporter, Wipro Ltd, has acquired Singapore's Unza Holdings Ltd for about $246 million in cash, the company said on Friday.
New York-listed Wipro, which also has interests in consumer care and lightings, expects to complete the 100 per cent acquisition by end-July, it said in a statement. Unza is a maker of personal care products with operations in over 40 countries. It has manufacturing plants in Malaysia, Vietnam, China and Indonesia. Wipro, which gets a bulk of its revenue by providing IT solutions and services such as systems integration, software application development and maintenance, has been buying up firms to accelerate growth.
(Source: Economic Times)
New York-listed Wipro, which also has interests in consumer care and lightings, expects to complete the 100 per cent acquisition by end-July, it said in a statement. Unza is a maker of personal care products with operations in over 40 countries. It has manufacturing plants in Malaysia, Vietnam, China and Indonesia. Wipro, which gets a bulk of its revenue by providing IT solutions and services such as systems integration, software application development and maintenance, has been buying up firms to accelerate growth.
(Source: Economic Times)
Tuesday, June 19, 2007
Wipro set to acquire German firm
Wipro Technologies, an information technology and outsourcing company, is poised to acquire the IT arm of a major company in Germany. The company has initiated talks with potential targets in Germany, even though the names were kept under wraps.
All major companies — BMW, Lufthansa, BASF and Siemens — have captive IT organisations in Germany. While automobile major BMW has an IT subsidiary, Softlab, with SAP capabilities, German airline major Lufthansa runs Lufthansa Systems, the third biggest IT vendor in Germany. BASF’s IT services division and a host of small companies could also be on the Indian IT major’s radar.
The company is on the lookout for acquisition that would help it gain a presence in the continent and embark on a much faster growth rate.
(Source: Business Standard)
All major companies — BMW, Lufthansa, BASF and Siemens — have captive IT organisations in Germany. While automobile major BMW has an IT subsidiary, Softlab, with SAP capabilities, German airline major Lufthansa runs Lufthansa Systems, the third biggest IT vendor in Germany. BASF’s IT services division and a host of small companies could also be on the Indian IT major’s radar.
The company is on the lookout for acquisition that would help it gain a presence in the continent and embark on a much faster growth rate.
(Source: Business Standard)
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