VCCircle

Wipro continues to make acquisitions. Wipro Infotech, the IT Business Unit of Wipro Ltd, has acquired India, Middle East and SAARC operations of 3D Networks and Planet PSG in an all cash deal. The consideration includes an upfront cash payment of approximately $23 million. This includes additional performance linked payments based on achieving agreed financial targets over a two year period.

3D Networks, based in Singapore, offers Consulting, Voice, Data and Converged Solutions, and Managed Services and its specialized solutions are deployed in ITES/IT, Telecom, Banking and Finance, Government and Service verticals.

In India, 3D Networks has a dominant presence in providing business communication solutions to ITES/IT segments and has approximately 270 employees serving several marquee customers. During FY 2005-06, the company clocked revenues of approximately $36 million, and is profitable.

Planet PSG is the sole Global Nortel Technical Services partner on Periphonics platform in APAC region and provides professional services on voice and speech platforms in the region.

Pune-based Mape Advisory Group was the financial advisor for Wipro.