Wipro looking at BPO buys - CIOL News Reports

BANGALORE, INDIA: Joining the league of IT firms like HCL technologies, Patni Computer Systems, Infosys BPO who have announced their acquisition plans, India’s third largest software exporter Wipro Technologies on Tuesday said it was looking for acquisitions in the BPO space.

Wipro Technologies joint CEO Suresh Vaswani said the company was looking at acquisitions in the BPO space. “BPOs will drive growth for the IT industry. Acquisition is part of our strategy and we keep looking at it,” he added, while speaking to media on the sidelines of World Economic Forum.

Wipro also said it saw robust deal pipeline on the back of improving IT demand worldwide.

"The deal pipeline is good ... the demand environment is building up. The IT demand situation is improving," Vaswani said.

On the same occasion, HCL Technologies' chief executive officer Vineet Nayar had said that his company was considering some small acquisitions over the next year.

Infosys BPO is also reportedly looking at acquiring firms in Europe and in the United States of $50 million to $100 million.

Meanwhile, Patni Computer Systems has reportedly shortlisted four firms for a multi-million dollar acquisition. It has signed a term sheet with one company before it begins a due diligence, and the acquisition is expected to happen by February. The Mint newspaper, which reported the Patni plans, did not disclose the details of the target companies.

The buying plans of the IT big guns indicate a loosening of purse strings by IT budget keepers.

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