In what may be the largest overseas acquisition by an Indian IT company, Wipro Technologies, the global IT services business of Wipro Ltd, acquired Infocrossing, a Nasdaq-listed IT infrastructure management company, for US$600 million. The deal also drew wide attention for being Wipro’s first acquisition of a foreign-listed company.
Still awaiting regulatory approval, the deal should be finalized this year.
The law firm of Wilson Sonsini Goodrich and Rosati advised Wipro, while Infocrossing was advised by law firm Gibson, Dunn & Crutcher.
Infocrossing, which offers clients integrated managed infrastructure services offshore, will bring five international data centre locations to Wipro and about 900 employees in the US, according to Sudip Banerjee, President, Enterprise Solutions of Wipro Technologies. Infocrossing also brings in expertise in health plan and payer management segments.
The company processes over 175 million claims annually and provides contracted services to over 90 managed care organizations.
The largest Indian IT acquisitions to date were made by telecom software solutions company Subex Systems (now Subex Azure), which bought Canada’s Syndesis for US$164.5 million in January 2007 and the UK’s Azure for US$140 million in April 2006.
