• search

Wipro acquires Quantech in all-cash deal

Written by: Staff

Mumbai, May 15 (UNI) Bangalore-based IT major Wipro Ltd has signed a definitive agreement to acquire the US-based Quantech Global Services LLC and the India-based Quantech Global Services Ltd in an all cash deal.

In a communique to the Bombay Stock Exchange (BSE), the company informed that the consideration includes upfront cash payment on closure of the transaction as well as earn-outs on achieving agreed financial targets over a three-year period.

Through this acquisition, Wipro gains over 500 domain specialists, thus strengthening its ability to provide proven competence in mechanical engineering design and analysis services.

The entire transaction is expected to be closed during the next one month, subject to customary closing conditions and regulatory approvals, pointed out the communique.


For Daily Alerts
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more