Wipro 'actively' pursuing a dozen buyouts

IT major Wipro Technologies today said it is 'actively' looking at about a dozen companies for acquisition and is hopeful to complete at least one in the current quarter.

"We are actively looking at 9-12 companies...We hope to complete at least one acquisition in the current quarter," Sudip Nandy, chief strategy officer, Wipro Technologies said at the NASSCOM India Leadership Forum.

He, however, did not give a time-frame for the acquisitions.

"We are looking at companies of above $50 million but in some cases we could pick up a stake also," Nandy said adding the company is looking at all modes of expansion, including buyout, stake or joint venture, as part of its inorganic growth strategy.

The verticals in focus are healthcare, travel, telecom, manufacturing and pharmaceuticals, he added.

Nandy said while Wipro is scouting for companies in India and abroad, it has not fixed any geographical focus.

"The aim is to deepen our domain expertise, fill up competency gaps and expand our service lines," he added.