Wipro buys Infocrossing for $600 million
From the highs of 650 rupees per share, Wipro is now languishing around 460 rupees. For starters, hope this deal will help it break through the 500 barrier. Think its a good time for accumulators to start buying into Wipro.
Wipro Ltd, the country’s third largest software exporter, today achieved the distinction of making the largest overseas acquisition in the information technology (IT) space when it announced the acquisition of US-based, Nasdaq-listed outsourcing firm Infocrossing for approximately $600 million (around Rs 2,430 crore) in an all-cash deal.
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