Taking forward Azim Premji's string of pearls strategy, Wipro Technologies is in advanced talks for at least three more acquisitions in the IT infrastructure space in Europe and Asia. The acquisitions will come close on the heels of the $127 million Citi Technologies deal last December.
The buyouts will add significantly to Wipro's infrastructure capacities, mainly data centre space, and manpower, a senior company official said without naming the exact geographies or the value of the proposed deals.
Wipro is the biggest Indian player in the fast-growing infrastructure management services (IMS) business. It has a team of 15,000 people in the IMS business which has grown at a CAGR of 47% over the past 4-5 years. The business accounted for 30% of the company's revenues last year making it the largest practice line for the company.