BANGALORE, India—Indian IT services provider Wipro Technologies snapped up Saraware Oy, a Finnish telecom design and engineering services firm, for about $31.7 million.
The acquisition not only gives Wipro access to Saraware’s expertise in radio networks and secure mobile platforms, but also gives Wipro a presence in the Nordic region, a hot-bed of wireless technology development.
The all-cash deal includes debt takeover and “earn-outs” based on achieving certain financial conditions over an 18-month period, Wipro said.
Saraware is the third design firm Wipro has bought in the last few months, having spent $52.5 million last week for Enabler, a Portuguese retail technology developer. In May, Wipro picked up U.S.-based Quantech Global Services, a mechanical engineering design and analysis company, for $10 million in cash.
Wipro Chief Strategy Officer Sudip Nandy said the acquisitions are “in line with our drive to transform ourselves into a truly global company with a global work force.”
The transaction is expected to close during the next month.
