Wipro buys Singapore's Unza for $246 million
06 Jul 2007
Bangalore (Reuters): 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 today.(See: Wipro consumer care unit close to acquiring stake in Singapore''s Unza)
New York-listed Wipro, which also has interests in consumer care and lightings, expects to complete the 100 percent 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.
In October last year its Wipro Infotech unit said it was acquiring 3D Networks Pte and Planet PSG, part of Malaysia-based Planel One.
Wipro''s engineering arm bought Swedish hydraulic components maker Hydrauto Group AB for $31 million in all cash deal in September.
Wipro,
which counts telecoms gear makers Cisco and Nortel, among
key clients, is scheduled to announce its June quarter
earnings on July 19.
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