Wipro ePeripherals to acquire Godrej printer unit

BANGALORE: Wipro ePeripherals Ltd., the computer peripherals making firm of

the Wipro Group, said on Friday it had signed an agreement to acquire the

Electronic Design and Manufacturing (EDM) division of Godrej & Boyce Ltd.

The acquisition of Hyderabad-based EDM, which makes dot matrix printers and

high-end electronic typewriters, would help Wipro ePeripherals consolidate its

leadership in the Indian market and enter global markets, a statement from the

firm said.

The statement did not provide the financial details of the proposed

acquisition.

Wipro ePeripherals was formed last year after Wipro Ltd., the flagship

company of the Wipro Group and India's largest firm by market value, hived off

its Peripherals Systems Division into a separate company.

"The merger of EDM is a rich addition to our research and development

and manufacturing capabilities," Ram Agarwal, managing director of Wipro

ePeripherals said in the statement.

"We shall build upon the existing international market of EDM in Japan,

Germany and other European countries."

The statement said that Wipro ePeripherals and Godrej & Boyce have been

working together for the last three years and the takeover would become

effective after statutory approvals.

It said that EDM had an annual production capacity of 30,000-35,000 units

worth Rs 320 million ($6.87 million).

The Peripherals Systems Division, before it was hived off as Wipro

ePeripherals, posted sales of Rs 2.7 billion for the financial year ended March

2000, it said.

(C) Reuters Limited 2001.