Wipro Does $600m Acquisition

Indian IT services provider Wipro Technologies is buying U.S. outsourcing services provider Infocrossing for $600 million in an all cash deal.

With five data centers and 900 employees, the Leonia, New Jersey headquartered Infocrossing reported a net income of $9.3 million on revenues of $232.4 million for the 12 months ended March 31, 2007.

Infocrossing is supposed to strengthen Wipro’s offerings to healthcare providers with its expertise in hosted and managed IT services for health plan and payer management segments.

Wipro’s president for Global IT services Suresh Vaswani said:

Wipro Technologies has identified global infrastructure services as an important driver of growth for the company and is pleased to add Infocrossing, which provides integrated managed infrastructure services to premier global clients

One of the largest IT acquisitions by an Indian firm, the deal is expected to close by Q4 this year.

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