Wipro acquires Quantech Global Services
May 16th, 2006 Leave a comment Visited 16 times, 1 so far today
Wipro acquires Quantech Global Services
Indian IT firm Wipro has announced that they are acquiring U.S.-based Quantech Global Services LLC and India-based Quantech Global Services Ltd.
The deal would be conducted in an all cash transaction and the company expects the process to take around a month’s time.
Wipro declined to reveal the size of this deal but said that it would involve an up-front cash payment and a sharing of Quantech’s earnings in the next three years.
Quantech is essentially a computer-aided design and engineering services company, which provides its services to clients in the automotive, aerospace and consumer goods sectors.
They have around 500 people working for them and had revenues of $12.7 million in the year ending December 2005.
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