Wipro eyeing acquisitions in India too: Premji

Bangalore, October 18:

Wipro Chairman Azim H Premji said here on Wednesday that the company was on the lookout for strategic acquisitions in consumer care as well as in the IT sector in India to sustain its inorganic growth.

“Our acquisition strategy is not confined to overseas alone. We continue to look for acquisitions within the country as well as abroad. If companies are strategically fit for our business growth, we will certainly be interested,” Premji told reporters.

Maintaining the aggressive strategy that witnessed a string of overseas buyouts in the last couple of quarters, Premji hinted that the inorganic growth plan would continue in the remaining two quarters of the current fiscal (FY 2007).

In the same context, Chief Financial Officer Suresh Senapaty said the company would not hesitate to go for big-ticket acquisitions if deals benefited its strategic growth plans.

“We may look for big deals that could be upwards of $20-25 million in the IT or consumer care space provided they contribute to our business growth and add to our portfolio in the coming quarters,” Senapaty said.