Wipro to buy US aerospace services firm

BANGALORE: Wipro Ltd., India's third-largest software exporter, is close to buying a US-based aerospace services company for about $90 million, the Economic Times newspaper reported today.

"While we are not looking at automotive related acquisition at present, we would like to strengthen our aerospace capability," Wipro's chief strategy officer Sudip Nandy told the business daily.

A Wipro spokeswoman declined comment.

New York-listed Wipro's offerings in the aerospace industry include embedded systems, consulting, engineering, and design services, the paper said.

Wipro, which provides IT solutions and services such as systems integration, software application development and maintenance, has been buying up firms to accelerate growth.

Indian software firms are vying for a bigger share of the aerospace market as aircraft makers and defence companies look to control costs by outsourcing design and management systems.

© Reuters