MindTree Ltd. said it will pay $6 million to buy Kyocera Wireless Corp.’s Indian facility, Kyocera Wireless (India) Pvt. Ltd., which develops wireless products, software engineering and product testing for Kyocera, as well as custom handsets for Indian service providers.
In addition to the upfront payment, MindTree will make more payments to Kyocera based on revenues through 2012. The Indian development center, headquartered in Bangalore with about 600 employees, will continue to provide engineering services to Kyocera on a contract basis once the sale is completed. For its part, Kyocera said the sale will reduce expenses.
“MindTree has established a global leadership position in technologies such as short-range wireless and multimedia codecs that are integral to wireless communication devices. With the acquisition of Kyocera Wireless (India) Pvt. Ltd. we will be able to further strengthen our leadership position by offering end-to-end design and technology services to wireless Original Equipment Manufacturers and service providers,” said S. Janakiraman, MindTree president and group-CEO, Product Engineering Services.
Kyocera sheds Indian product testing facility
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