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India's Wipro to acquire U.S. outsourcing firm

Posted: 08 Aug 2007 ?? ?Print Version ?Bookmark and Share

Keywords:outsourcing services? IT service? data center?

India's Wipro Ltd said that its global IT services business Wipro Technologies is set to acquire U.S. outsourcing firm Infocrossing Inc. for $18.70 per share in an all-cash deal.

The acquisition will be conducted by means of a tender offer for all of the outstanding shares of Infocrossing, followed by a merger of Infocrossing with a Wipro subsidiary. The tender offer, subject to a number of customary closing conditions, including regulatory approvals, is expected to close by Q4.

"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," said Suresh Vaswani, president, global IT service-lines, of Wipro. "This acquisition of an acknowledged industry leader broadens the data center and mainframe capabilities of Wipro Technologies to uniquely position us in the remote infrastructure management space. Through Infocrossing we are deepening our presence in the United States with the addition of five data center locations and approximately nine hundred employees."

"We selected Wipro after conducting a full process and believe that by coupling our strong services and U.S.-based operations with the global delivery model of Wipro Technologies, we will be able to drive additional value for the shareholders and clients of both our companies," said Zach Lonstein, chairman and CEO of Infocrossing.

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