Wipro Ltd.

Wipro has inked a definitive agreement to acquire 100% shareholding of the L.D. Waxsons Group, a Singapore based Fast Moving Consumer Goods (FMCG) Company for an all cash consideration of about $144 million. This transaction will give the company the leadership position in the facial skincare market in Malaysia and Singapore, expand its presence in China, besides enhancing its market position in other Asian markets.  The company is expecting to close the transaction within the next 60 days.

L.D. Waxson Group, headquartered in Singapore, is a leading company with a wide portfolio of brands, including leading skin care brands Bio-essence and Ginvera, and health care brand Ebene. The company has manufacturing facilities in China and Malaysia and a strong footprint in Singapore, Malaysia, China, Taiwan, Hong Kong and Thailand. The revenues on run-rate basis for FY12 are about $68 million.

Wipro provides comprehensive IT solutions and services, including systems integration, Information Systems outsourcing, IT enabled services, package implementation etc. It also has a strong presence in niche market segments of Infrastructure Engineering and Consumer Products & Lighting.