Wipro to acquire Oki Electric's subsidiary

New Delhi, Sept 28 (UNI) Wipro Ltd, country's third largest software exporter, today said it has entered into an agreement to acquire Oki Techno Centre (Singapore) Pte Ltd in an all cash deal to help it expand in Japan and east Asia.

The acquistion will be completed over a period of one year, company said in a statement.

Wipro will also establish a dedicated Development Centre for OKI.

''As part of this partnership, Wipro has signed a definitive agreement to acquire Oki Techno Centre Singapore Pte Ltd (OTCS), including its own intellectual property rights in an all-cash deal over a period of one year,'' company said in a statement.

However, the company did not disclose the cost of acquiring OTCS, a wholly owned subsidiary of Oki.

The development centre set up by Wipro will enable Oki to utilise design resource efficiently, enhance product development capabilities and to expand its semiconductor business and increase its competitive edge in designing semiconductor products in the global market.

OTCS is a wholly-owned subsidiary of Oki on wireless design and has demonstrated innovative capabilities in RF (Radio Frequency) and baseband design.

UNI