Friday, December 23, 2005

Wipro makes its moves

Wipro has acquired another in the space of a few days. Close on the heels of its previous acquisition, a semiconductor design firm, Wipro this time has snapped up mPower Inc.

...Wipro Technologies on Thursday announced the acquisition of the US-based mPower Inc in an all-cash deal worth $28 million.

This amount includes the takeover of the Chennai-based MPACT, a joint venture of MasterCard and mPower. MasterCard, which owned a 49 per cent stake in MPACT, has entered into a strategic engagement with Wipro Technologies.

mPower is a $18-million finance software services and technology consulting company....

IT and IT services, the type of work that is being done so far and the scale are miniscule compared to the possibilities that exist today. Our companies have to scale up the value peak and one of the way to get there is to get there is by acquiring niche, high value service providers.

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