Wipro eying acquisitions in Canada, Germany

19 July 2007

Mumbai: Wipro Ltd, the country''s third largest software services firm, is planning acquisitions in Germany and Canada to boost growth in those markets.

Germany is an "important growth market," for the company and hence the decision to invest there, Wipro chairman Azim Premji said. "We are also making investments in Canada as we are late starters there," he added.

"We are looking at inorganic growth (through acquisitions) in Germany as well as in Canada", he said after announcing the company''s first quarter results.

Premji said the company is making additional investments in the Middle East, another important growth market. Wipro, he said, wants to drive growth above the industry rates and maintain margins at the top end of the respective segments.

"To achieve this we have been focusing on both organic and inorganic investments and our endeavour is to continue with this strategy," he said.

While the business environment continues to be robust even with the company''s existing clients, he said, "We are investing in newer markets and service lines to drive growth and that combined with our focus on driving operational improvements will help us achieve our vision of global leadership."