Wipro eyes acquisitions, expansion in China

BANGALORE (Reuters) - India's third-largest software services exporter, Wipro Ltd., is eyeing more foreign acquisitions to accelerate growth and plans to expand operations in China, its chief financial officer said on Thursday.

Wipro, which is also listed in New York and counts telecom gear makers Cisco and Nortel among key clients, has bought six Western companies since December.

"So far the size of the deals has been between $20 million and $50 million. Going forward, our objective would be to take that average up rather than down," Suresh Senapaty told Reuters in an interview.

He said business from Europe, which accounted for 24 percent of Wipro's revenue in April-June, was growing faster than from the United States.

"There are quite a few geographies within Europe where we are under penetrated and we think those are the countries which will open up pretty soon," Senapaty said.

"So, we are in an investment mode, looking at opportunities for acquisitions and collaborations," he said.

Bangalore-based Wipro's recent purchases included Finland's Saraware Oy for $31.90 million and U.S.-based Quantech Global Services LLC.