Wipro looking for offshore acquisitions
Bangalore,
Jan
18:
Expressing
displeasure
over
media
reports
about
India's
third
biggest
software
exporter
Wipro's
acquisitions
on
foreign
soil,
company
Chairman
Azim
Premji
said
long
term
outlook
and
returns
were
the
vital
parameters
for
any
new
acquisitions.
Answering questions from reporters after announcing the results of the IT giant for the third quarter ending December 31, he said media 'speculations' had troubled the company as it had to answer to the stock exchange quite often. "Media reporters on us acquiring European IT major Cap Gemini were misplaced and too repetitive. This had made us to reply to the stock exchange often which we usually don't do. We are looking at specific requirements which we do acquisitions," he said.
The roadmap for Wipro in this respect was that there were certain areas which would supplement its revenue stream and it was more focussed on long term outlook and returns, he said.
Mr Premji said Wipro was in the processing of opening four overseas development centres including two in the US. "We will soon be opening our facilities in Atlanta in Georgia State and in Michigan near Detroit. We are looking for low cost areas wherever we go. The other two centres would come up at Chendu in China and Sebu in Philippines," he added.
UNI