Bangalore-based Wipro Ltd announced on 28 September it has inked a definitive agreement to acquire Oki Techno Centre Singapore Pte Ltd (OTCS), a wholly-owned subsidiary of OKI Electric Industry Co Ltd.
“Wipro has signed a definitive agreement to acquire Oki Techno Centre Singapore Pte Ltd, including its intellectual Property Rights in an all cash deal over a period of one year,” a company statement said.Although the company did not mention the financial details of the deal, sources said it has acquired OTCS for $2-3 million.OTCS is a 40-member centre, with customers in Japan in the product engineering space.
Read more in The Livemint article.
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